From April 2014, point at which people start paying income
tax will be raised to £10,000. From
April 2015, workers will be allowed to earn up to £10,500 before being liable
for income tax.
From July 2014, investors will be able to put up to £15,000 into New Individual Savings
Accounts (NISAs), either as cash or shares. Currently savers can only invest
£5,760 a year into a cash ISA and £11,520 a year in a shares ISA. Cash and
shares ISAs are to be merged into single New Individual Savings Accounts (NISAs).
NISAs will "reduce confusion on the differing amounts which could be saved
in cash and stocks and shares, and more importantly give people more
flexibility to earn tax-free interest", said Graham Beale, the chief
executive of Nationwide.
From June 2014, savers will be allowed to hold up to £40,000 in Premium Bonds, up from
£30,000 previously. In 2015, the limit will be raised further to £50,000.
The amount of income that one half of a married couple can
transfer to their partner will be set at £1,050
for 2015-16.
GDP forecast to grow by 2.7%
in 2014 and 2.3% next year, then by 2.6% in 2016 and 2017 and by 2.5% in 2018.
From April 2014, threshold for 40% income tax to rise from
£41,450 to £41,865 and by a further
1% to £42,285 in 2015.
http://www.bbc.co.uk/news/uk-politics-26626280
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