Pre-Budget update 4

Dec 9 2009 By Andrew Mernin

Minimum number of hours those over 65 need to work to receive Working Tax Credit to be reduced.

Basic state pension will rise by 2.5% in April, a real-terms increase of nearly 4%.

Other benefits linked to inflation, such as Child Benefit, will rise by 1.5% in April.

From next year’s Budget, Bingo Duty to be cut from 22% to 20%.

Government to guarantee that anyone in work will always be better off than they were on benefits, with extra cash help from the Government if needed.

The first half of this year saw a sharper economic deterioration than had been expected in the UK. Over the year, the UK economy expected to contract by 4.75% with a return to growth in the fourth quarter.