Head

£ million

2011-12

2012-13

2013-14

2014-15

2015-16

2016-17

Measures announced since Budget 2011

1  VAT: low value consignment relief

Tax

0

+90

+95

+95

+100

+110

2  Manufactured overseas dividends

Tax

0

+30

+40

+40

+40

+40

3  North sea oil and gas

Tax

0

0

-5

-5

-50

-10

4  APD: Northern Ireland

Tax

neg

neg

-5

-5

-5

-5

5  Housing Benefit charges

Spend

neg

-10

-15

-15

-15

-15

6  JSA training

Spend

neg

-5

-5

-5

-5

-5

Tax measures

7  Fuel duty: delay January 2012 increase to August and cancel August 2012 increase

Tax

-375

-975

-825

-850

-875

-925

8  Asset-backed pension contributions: tax treatment

Tax

+340

+450

+450

+450

+450

+450

9  Bank levy

Tax

0

+280

+310

+310

+315

+325

10  CGT: freeze annual exempt amount

Tax

0

0

+25

+25

+25

+30

11  APD: business jets

Tax

0

0

+5

+5

+5

+5

12  Small business rate relief: extend holiday

Tax

0

-210

+5

0

0

0

13  Business rates: deferral of payments

Tax

0

-85

+45

+40

0

0

14  CCL: increase electricity relief to 90 per cent

Tax

0

0

-15

-20

-20

-20

15  Seed Enterprise Investment Scheme: scheme and 2012 CGT holiday

Tax

0

0

-50

-25

-20

-20

16  VAT cost sharing exemption

Tax

0

-25

-50

-75

-100

-125

17  Capital allowances: Enterprise Zones

Tax

0

-25

-40

-25

-5

neg

18  Gifts of pre-eminent objects

Tax

0

-15

-15

-15

-15

-15

Total tax pollcy decisions2

-35

-305

+145

+130

+20

+15

Spending measures

19  Changes to current spending

Spend

0

+910

+1,175

+1,735

+8,290

+15,105

20  Changes to capital spending

Spend

0

-660

-1.455

-1.645

0

0

Total spending policy decisions

0

+250

-280

+90

+8,290

+15,105

Of which current spending savings

21  Child Tax Credit: remove over-indexation

Spend

0

+975

+955

+1,020

+995

+995

22  Working Tax Credit: freeze

Spend

0

+265

+290

+275

+275

+280

23  Public sector pay restraint

Spend

0

+75

+600

+1,075

-

-

24  Official Development Assistance: adjusting to meet 0.7 per cent GNI target

Spend

0

+380

+265

+525

-

-

Of which additional current spending

25  Youth Contract

Spend

0

-365

-310

-265

-

-

26  Early years childcare

Spend

0

-85

-240

-455

-

-

27  Rail fares

Spend

0

-105

-105

-135

-

-

28  Carbon price floor: energy intensive industries

Spend

0

0

-40

-60

-

-

29  Science

Spend

0

-30

-30

-30

-

-

30  Pension Credit: Changes

Spend

0

neg

neg

neg

neg

neg

Of which capital spending

31  New funding for infrastructure3

Spend

0

-760

-1,785

-2,145

-

-

32  Reserve reprofiling

Spend

0

+100

+330

+500

-

-

TOTAL POLICY DECISIONS

-35

-55

-135

+220

+8,310

+15,120

"neg" Negligible

- Spending measures do not affect borrowing in 2015-16 and 2016-17 as they fall within the Total Managed Expenditure assumption

1  Costings reflect the Office for Budget Responsibility's latest economic and fiscal determinants.

2  lncludes the negative tax element of Tax Credits measures - breakdown included in the Autumn Statement 2011 policy costings document.

3  Details set out in Table 2.3.