Budget 2013: Key points and reaction

Following yesterday's pre-Budget announcement that the Government would extend tax-free childcare to more families, the Chancellor's speech was light on further support for children and families.

George Osborne confirmed that there would be new tax-free childcare vouchers for working families, with 20 per cent off the first £6,000 of childcare costs for each child and increased childcare support for low-income working families on universal credit.

Other key points included:

  • The schools and NHS budgets will be protected, but most Government departments will have their budgets cut by 1% in the next two years
  • £11.5 billion in more cuts in 2015-167 Spending Review
  • Public sector pay rises will continue to be capped at 1% for 2014-16
  • New employment allowance will mean National Insurance cuts of £2,000 for all businesses and no NI contributions for some 450,000 small businesses.

© MA Education 2020. Published by MA Education Limited, St Jude's Church, Dulwich Road, Herne Hill, London SE24 0PB, a company registered in England and Wales no. 04002826. MA Education is part of the Mark Allen Group. – All Rights Reserved