Budget 2015: Benefits, cuts & Sunday trading - 10 things to expect

Chancellor of the Exchequer George Osborne outside 11 Downing Street, London, before heading to the House of Commons to deliver his annual Budget statement. PRESS ASSOCIATIONChancellor of the Exchequer George Osborne outside 11 Downing Street, London, before heading to the House of Commons to deliver his annual Budget statement. PRESS ASSOCIATION
Chancellor of the Exchequer George Osborne outside 11 Downing Street, London, before heading to the House of Commons to deliver his annual Budget statement. PRESS ASSOCIATION
Chancellor George Osborne is to deliver his emergency Budget today ​(July 8) from 12.30pm ​- with billions of cuts to welfare expected.

Here are ten things predicted to be included in the announcement​:​

Hide Ad
Hide Ad

Tax credit cuts for families with more than two children. The Chancellor is set to take child tax credits back to the levels seen in 2003-4 to save around £5billion.

If the plan is approved it would mean the benefit would be cut for 3.7million low-income families by around £1,400 a year, according to the Institute for Fiscal Studies (IFS).

The benefits cap could be pulled down to £20,000 a year per household outside the South East.

Hide Ad
Hide Ad

On Sunday trading hours the Chancellor is expected to confirm a policy to allow councils to decide on extensions to Sunday trading hours.​ ​Currently retailers can only trade for up to six hours on Sunday.

The threshold at which workers start paying the 40p tax rate is expected to be raised as part of an ambition to increase it to £50,000 by 2020.

Plans to cut £12 billion from welfare spending are likely to be implemented more gradually than the two-year timeframe proposed earlier this year.

Hide Ad
Hide Ad

Devolution for Yorkshire is expected to be on the agenda, with negotiations between Sheffield and Leeds authorities said to already be underway.

Student grants are to be axed and replaced with loans, it has been reported, to save £1.6m. Means-tested maintenance grants are meant to help those from poorer backgrounds.

An increase in the inheritance tax allowances for couples to £1 million.

Hide Ad
Hide Ad

People on housing benefit could be made to contribute to their rent for the first time - while those aged under 25 and young jobseekers could also see cuts.

The Government has said that it will find £5bn from tackling tax evasion and avoidance.

Don’t miss out on all the latest breaking news where you live.

Hide Ad
Hide Ad

Here are four ways you can be sure you’ll be amongst the first to know what’s going on.

1) Make our website your homepage

2) Like our Facebook page

3) Follow us on Twitter

4) Register with us by clicking on ‘sign in’ (top right corner). You can then receive our daily newsletter AND add your point of view to stories that you read here.

And do share with your family and friends - so they don’t miss out!

Always the first with your local news.

Be part of it.