2015 Business Budget

What exactly did George Osborne do on Wednesday 8th July? He presented a Budget for Business

• Tax rates for corporations,already the lowest in the G7 are to be lowered further.
• Companies able to invest £ 250,000 a year and set it off against tax
• Special levies on banks reduced
• Inheritance tax reduced

 Next year will see the largest privatisation proceeds of state assets (state equity in public banks sold at a loss) in a single year ever, over £10 billion higher in real terms than the previous record in 1987-89.

These tax reductions for Corporations are worth 28bn over 5 years. At the same time hidden subsidies, direct grants and tax breaks amount to £93bn a year, or £3500 per UK household. A new report by Kevin Farnsworth of York University shows that the British Government spends more on grants and loans to big business than they raise on corporate taxes  
.http://www.theguardian.com/politics/2015/jul/07/corporate-welfare-a-93bn-handshake   
And this does not take into account tax avoidance or tax evasion.

What exactly did George Osborne do on Wednesday 8th July? He punished the working population and families.

• Working age benefits frozen for four years
• Family element CTC to be removed on Tax credits
• Limiting CTC to first two children
• Income threshold halved
• Taper rate raised from 41% to 48%
• Income Rise disregard reduced to £2500 from£5000
• Last of student grants replaced by loans
• Social Housing allowances reduced
• Pay limit of 1% for public sector

Tax officials will pay hard-hitting private debt collectors to target families who owe the government more than £3,000.

http://www.mirror.co.uk/news/uk-news/how-budget-affect-tax-credits-6031675

He is pouring billions into business and they are saying thank you and carrying on doing what they do best and pay minimum wages and introduce Zero hours contracts