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Budget: July 2015

Summer Budget: Your guide to news and analysis

Daily Business will bring you live and comprehensive coverage of the Summer Budget on Wednesday. A team of writers and experts will be on hand throughout the day to analyse the Chancellor’s announcements in the second Budget of the Year.

Editor Terry Murden will be joined by former Scotsman colleagues Dominic Jeff in Edinburgh and personal finance writer Lindsey Rogerson in London.

Terry Murden

Dominic Jeff

Lindsey Rogerson

 

 

 

 

 

 

 

 

Offering their analysis of the statement will be three tax experts from Scotland-based accountants and business advisers Johnston Carmichael: Alex Docherty, David Ward and Susie Walker.

Alex Docherty

David Ward

Susie Walker 2

 

 

 

 

 

 

 

 

 

There will also be reaction from other business and pensions experts as George Osborne delivers what is expected to be a Budget focused around personal taxation, balancing the public finances and providing opportunities for enterprise.

When is the budget?

The Chancellor’s Budget speech will take place at 12.30pm on Wednesday straight after Prime Minister’s Questions at noon.

What do we already know will be announced?

*Plans for cutting £12bn from the welfare budget including cuts to tax credits and rent subsidies for higher earning tenants

*Reform to inheritance tax allowing couples to pass on £1m tax free to their children

*An increase in the personal tax allowance to £12,500 by 2020, which will be indexed to automatically increase with the minimum wage

*Possibly the reduction of the 45p income tax rate to 40p.

*The BBC will be expected to take on the £650 million-a-year bill for providing free television licences for the over 75s by making cuts to its own budget

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