Budget 2013: Key points and reaction

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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.

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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.
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