7 March 2001
Budget – key points

KEY POINTS FOR FARMERS POSITIVE

  • No pesticides tax
  • Scope of capital gains business taper relief extended to include certain trusts trading in partnership
  • First year allowance of 100% on designated energy saving plant and machinery
  • Modest rise in inheritance tax threshold to 242,000
  • Reduction in fuel duties
  • Abolition of tractor VED
  • Extension of small car threshold for VED
  • Childrens tax credit increased and extended from original proposals

KEY POINTS FOR FARMERS NEGATIVE

  • No new specific aid package
  • Increase in landfill tax
  • No increase in corporation tax thresholds