Budget 2010

The Chancellor of the Exchequer, Alistair Darling MP, delivered his last Budget before the General Election. Mr Darling set out to deliver ‘a steady as she goes message’ showing that the Government has control of the economy and that it is serious about restraining the deficit. The Public Sector did not feature heavily in a budget that focused on packages for small business to boost skills and innovation and the creation of a Green Investment Bank.

Community and social organisations

• The Gift Aid forum will make recommendations by the autumn to consider possible reforms and simplifications
• The UK’s tax relief for charities and charitable giving will be extended to certain EU charities
• New definition of charity for tax purposes is being introduced and a number of other consequential changes are being made to the existing compliance regime and Gift Aid process

Local Government

• Local authorities will be given new discretion over £1.3 billion of funding that is currently ring-fenced
• From October 2011, the highest rents across the country, including the most expensive 8% of properties in London, will be excluded from the calculation of the Local Housing Allowance in each area

The Chancellor’s statement can be read in full here

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