Summary
The 'Finance Bill' is the annual bill presented by the Government in order to implement the measures contained in the Budget report.
This Bill seeks to implement the measures set out by Alistair Darling in the 2008 Budget Report, 'Budget 2008 - Stability and Opportunity: Building a Strong, Sustainable Future' (HC 388).
The 'Finance Bill' 2008 is presented in two volumes:
- Volume I contains the clauses and schedules 1-7; and
- Volume II contains schedules 8-46 to the Bill.
Measures included in the Budget 2008:
- Financial support for children living in poverty.
- Additional payment for over-80s and over-60s households.
- Increased financial support for small businesses.
- A financial package bringing forward GCSE targets by one year.
- Postponement of the planned fuel duty increase until October 2008.
- An increase in alcohol duty rates.
- Groundwork for five-year carbon budgets.
- Modernisation of the tax system and measures to combat tax fraud and avoidance.
- Steps to tackle climate change.
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