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1985 United Kingdom budget

Source πŸ“

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In his statement, the chancellor told the House that the miners' strike had cost the government an extra Β£2.75bn in public borrowing, while national output had been reduced by 1% during 1984. He wanted to use the budget to cut taxes, but his programme was far less reaching than he had hoped. He would
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was announced, introducing lower National Insurance bands for employees, while the employers' contribution ceiling was changed to make all earnings subject to the 10.45% rather than just paying up to Β£265 a week as had previously been the case.
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was increased on alcohol and cigarettes, with 1.5p on a pint of beer, 6p on a bottle of wine, 10p on a litre of spirits, 6p on a packet of cigarettes, and 4p on a gallon of petrol.
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later claim to have been "boxed in" by the strike, as well as high inflation and high unemployment. Measures announced in the 1985 budget included increasing
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by up to 10%, twice the rate required to keep them abreast with inflation, a move he argued would take 800,000 families out of paying tax. A reform of
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questioned how the chancellor could afford Β£2bn to fight the miners, but could not afford to do the same to fight unemployment.
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on 19 March 1985. The second budget to be presented by Lawson, it was held shortly after the end of the year-long
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The potential cost the National Insurance changes would have for employers was of concern to some
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was raised from Β£90 to Β£100, an increase that was seen as a significant milestone.
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were also announced, but threatened to place extra costs on employers.
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was also reformed, with 15 different stamp duties abolished.
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Vote of no confidence in the Callaghan ministry (1979)
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Changes to 128: 124: 121: 117: 113: 109: 105: 101: 90: 85: 79: 76: 73: 71: 67: 64: 61: 57: 54: 51: 47: 44:19 March 1985 43: 39: 35: 30: 16: 1545: 1538: 1525:Thatchergate 1446:The Audience 1444: 1441:(2010, 2013) 1436: 1417: 1409: 1401: 1393: 1385: 1377: 1369: 1361: 1353: 1345: 1337: 1329: 1321: 1313: 1305: 1297: 1218: 1210: 1202: 1061:3rd ministry 1016: 978:2nd ministry 898:1st ministry 886:2nd–3rd term 836:Conservatism 695: 624:October 2024 594:October 2021 381: 273:. Retrieved 269: 245:. 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Index


49th
Conservative Party
Chancellor
Nigel Lawson
1984
1986
Nigel Lawson
Chancellor of the Exchequer
House of Commons
1984–85 miners' strike
income tax
personal allowances
stamp duty
National Insurance
personal allowances
National Insurance
Stamp duty
Road tax
Excise duty
Conservative
Neil Kinnock
Labour Party
Opposition


"Bygone budgets: March 1985"


"Budgets 1979 – 1992"

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