Budget – key points

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