The headlines on this week’s Budget.
*An increase to the personal income tax allowance of £750 to £13,250, lifting 1,700 people out of the tax net.
*Taxpayers will be up to £150 better off, or up to £300 better off for a married couple.
*Child Benefit to rise by 3.3%, building on last year which saw the first increase in Child Benefit payments for seven years.
*An additional £5.5m for Health and Social Care services.
*An extension to tax relief on nursing expenses to include physiotherapy.
*A five-year capital investment programme of £428 million, including a replacement Castle Rushen High School, an extension to QEII’s Science and Technology block and a national glens and footpaths improvement programme.
*Continuation of the £50m Enterprise Development Fund and a £4.2m business support package to aid economic growth.
*A further 10% increase in the rate of the nursing care contribution.
*The introduction of new pension freedoms
*Continuation of 1% cap on the budget for Government staff pay awards for 2018-19, rising to 2% from 2019-20 allocated on the basis of need
*Basic state pension to rise by 3%.
*A range of other benefits to increase by 3.3%.
*A top-up of £1m for the Brexit Fund, for the continued negotiations arising from the UK’s departure from the EU.
*The benefit in kind incentive to encourage cycling to work to be extended to include electric bikes.

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