What the 2021Budget means for Norlanders.

The Budget has set out financial measures for people, families and business to address the economic and personal impact of the pandemic and the national debt. The Chancellor vows to protect jobs and livelihoods.

The key points: Furlough is extended until end of September. Support for the self-employed is extended. Access to grants is widened. Working Tax Credit claimants will get £500 one-off payment. Minimum wage to increase to £8.91 an hour. Universal credit top-up extended. Unemployment to rise to 6.5% but lower than predicted. UK to borrow £355bn this year. No changes to income tax and personal tax free allowances. HRI frozen till 2026. Corporation tax to rise to 25% from 19% for big companies but stays at 19% for smaller companies. Stamp duty holiday extended to June 30th. IHT and CGT exemptions to be frozen until 2025. More money to roll out vaccines. £19M for domestic violence programmes. £10M to support veterans with mental health needs. Extra grants for the museum, art and sport sectors. Apprenticeship incentives. Business rates holiday till June. Relief on rates and VAT. Contactless payments now up to £100. No tax rise on booze or fuel. £150M for community groups to take over pubs at risk of closure. Eight Freeport sites announced.

Green Incentives : £15b in green bonds for businesses to transition to net zero by 2050