What we already knew...

The dark shadow over Alistair Darling 's Pre Budget Report is more than just gathering economic storm clouds. Mr Darling is deep in the shadow of the man who lives next door. Gordon Brown spent much of his Budget 2007 speech pre-announcing measures not scheduled to take effect until April 2008.

Among the measures due to take effect in April 2008 and after, that were announced in Budget 2007:

• A cut in the basic rate of tax by 2p to 20p in the £
• Abolition of the 10% lower tax rate
• A 20% increase in the amount you may invest in a cash ISA to £3,600
• Overall ISA limit to be increased by £200 to £7200
• Individual inheritance tax nil rate band to rise to £350,000 by 2010
• The tax-free allowance for pensioners under 75 to rise in three stages to £9,770 in 2011
• Grants of £300-£4,000 for pensioners installing insulation and central heating
• A cut in the main rate of corporation tax to 28%
• A 100% annual investment allowance of up to £50,000
• Landfill tax to rise by £8 each year

Back to Pre-Budget 2007