8th July 2015
The state of the economy.
Economy grew by 3% in 2014.
2.4% growth forecast in 2015, the same as predicted in March, followed by 2.3% and 2.4% in the two following years
1 million extra jobs predicted to be created by 2020 Public borrowing/deficit/spending
Deficit to be cut at same pace as during last Parliament – securing a budget surplus a year later than planned in 2019-20
Borrowing set to fall from 69.5bn this year to 43.1bn, 24.3bn and 6bn before hitting a 10bn surplus in 2019-20
Debt as a share of GDP to fall from 80.3% this year to 79.1%, 77.2%, 74.7%, 71.5% and 68.5% in successive years
1% public sector pay rise to continue for next four years
37bn of further spending cuts by 2020, including 12bn of welfare cuts and 5bn from tax avoidance Welfare and pensions
Working-age benefits to be frozen for four years – including tax credits and local housing allowance
Rents in social housing sector will be reduced by 1% a year for the next four years
Higher-income households in social housing will be required to pay rents at the market rate
Tax credits and Universal Credit to be restricted to two children, affecting those born after April 2017
Reduce earnings level for tax credits withdrawal from 6,420 to 3,850.
Disability benefits will not be taxed or means-tested
18-21-year-olds will not be entitled to claim housing benefit automatically, with a new “earn to learn” obligation
Employment and Support Allowance payments for claimants deemed able to work to be “aligned” with Jobseeker’s Allowance for new claimants
State pension triple lock to be protected
Green Paper published on proposals for “a radical change” to pension saving system
Annual tax relief on pension contributions to be limited to 10,000 a year
Alcohol, tobacco, gambling and fuel
No rise in fuel duty with rates continuing to be frozen
Major reform to vehicle excise duties to pay for a new road-building and maintenance fund in England
New VED bands for new cars to be introduced from 2017, pegged to emissions – 95% of car owners will pay 140 a year. Personal taxation and pay
Introduction of a new national living wage for all workers aged over 25, starting at 7.20 from April 2016 and set to reach 9 an hour by 2020
Inheritance tax threshold will be increased to 1m from 2017
Personal tax allowance to rise to 11,000 next year
The point at which people start paying income tax at 40p to rise from 42,385 to 43,000 next year Business
Permanent non-dom status to be abolished – from April 2017, anyone who has lived in the UK for 15 of the past 20 years will pay same level of tax as other UK citizens
7.2bn to be raised from clampdown on tax avoidance and tax evasion with HMRC budget increased by 750m
Bank levy rate to be gradually reduced over the next six years and a new 8% surcharge on bank profits introduced from January 2016.
Cap on charges imposed by claims management companies and an increase in insurance premium tax to 9.5% from November. New apprenticeship levy for large employers Corporation tax to be cut to 19% in 2017 and 18% in 2020
Climate Change Levy exemption for renewable electricity to be removed. Health and education
NHS will receive a further 8bn by 2020 (in addition to the 2bn already announced) Student maintenance grants to be replaced with loans from 2016-17, to be paid back once people earn more than 21,000 a year.
The maintenance loan will increase to 8,200. Housing/infrastructure/transport/regions/culture/defence Control over fire services, planning and children’s services to be handed to consortium of 10 councils in Greater Manchester
Discussions on devolution of services to Sheffield, Liverpool and West Yorkshire 30m for new body to promote integrated transport – including use of Oyster cards – in the north of England Mortgage interest relief for buy-to-let homebuyers to be restricted to basic rate of income tax
Rent-a-room relief scheme to rise to 7,500 Government to spend 2% of GDP on defence every year and introduce a 1.5bn new Joint Security fund
What has already been announced
The cost of funding free TV licences for the over-75s will be transferred from the government to the BBC between 2018 and 2021
The annual household benefit cap will be reduced to 23,000 in London and to 20,000 in the rest of Britain.
Subsidies for social housing will be phased out with local authority and housing association tenants in England who earn more than 30,000 – or 40,000 in London – having to pay up to the market rent A consultation will take place on changing Sunday trading laws
Recipients of the Victoria Cross and George Cross will see annual pension annuities rise from 2,129 to 10,000, paid for by bank fines
Changes since March
This Budget increases Government expenditure by 83.3b over the course of the Parliament compared to what Osborne announced in March 2015.
This will postpone the delivery of a surplus for 12 months.
AVSystem will showcase their latest solutions at Broadband World Forum 2015, the world s largest broadband event exploring how network innovation is powering the global connected society.
As the organizer suggests, Broadband World Forum brings senior fixed and mobile telecoms executives together with global IT, media and government innovators to create an exciting and engaging community which meets, interacts and exchanges ideas on the future of telecom industry.
This year AVSystem will present their Unified Device Management Platform (next-generation system for network maintenance, monitoring and device orchestration), M2M Service Delivery Platform Linkyfi (WiFi Management & Marketing Platform). The main focus will be put on answering questions how to enable the easy provisioning of new services and cut costs with network automation and management as well as how to easily manage WiFi hotposts and what is the best way to monetize free WiFi.
To meet AVSystem s representatives, please visit booth No. C20.
About Broadband World Forum 2015
Broadband World Forum, 20-22 October 2015, ExCeL, London, UK is one of the world s largest telecoms, media & technology events.
With 434 different operator companies in attendance and visitors from fixed, mobile and wholesale operators, OTTs, media and content owners, governments and regulators, analysts and press, enterprise and vertical markets and global solution providers, the Broadband World Forum provides one of the industry s most diverse and wide-ranging communities as a sounding board for future technology. More information on www.broadbandworldforum.com1
AVSystem is a market leader in advanced CPE & device management for Telcos and ICT SPs based on TR-069 family and other management protocols like http/s, SNMP, ssh, telnet, t/ftp, OMA-DM, LWM2M and MQTT. High performance architecture supporting modems/routers (xDSL, Cable, WiMAX, 3G, LTE), STBs, xPON/FTTx/ETTx, VoIP terminals and Femtocells helps to improve operational processes & reduce costs through auto-configuration, mass operations, remote diagnostics & troubleshooting, advanced monitoring and QoE.
AVSystem s portfolio includes Unified Device Management Platform (Next-Generation ACS based on open protocols such as OMA DM, OMA LWM2M or MQTT), libCWMP (Embedded CWMP Library for Device Manufacturers), TEC (Specialized Middleware for OpenWRT-Based Devices), QXperience (QoE Monitoring & Proactive Testing), SmasH (Smart Home & Android-Based Secure Mobile Self-Management System), AVSystem AAA (Authentication, Authorization and Accounting System), Smart Metering and Linkyfi (WiFi Access Management & Marketing Platform).
- ^ www.broadbandworldforum.com (www.broadbandworldforum.com)
- ^ www.avsystem.com (www.avsystem.com)
- ^ AVSystem (www.avsystem.com)
- ^ AVSystem UMP (www.avsystem.com)
- ^ BBWF 2015 (www.avsystem.com)
- ^ Broadband World Forum 2015 (www.avsystem.com)
- ^ Linkyfi (www.avsystem.com)
- ^ M2M Service Delivery Platform (www.avsystem.com)
- ^ Marketing Platform (www.avsystem.com)
- ^ UMP (www.avsystem.com)
- ^ Unified Device Management Platform (www.avsystem.com)
- ^ WiFi Marketing (www.avsystem.com)
BT has started providing high-speed broadband services to homes and businesses in the Outer Hebrides, marking a key milestone in its work to take broadband to the remotest parts of the UK.
The town of Stornoway on the Isle of Lewis, and the nearby village of Tong, are the first locations where services are going live, allowing 3,600 premises to access connections that offer speeds of up to 80Mbps.
BT said that it will continue to work in the area to ensure that all premises can access fibre services, which will be delivered as fibre-to-the-cabinet connections.
The switch-on of services comes after a hugely challenging rollout of around 250km of undersea cables in the Scottish islands1.
BT chief executive Gavin Patterson paid tribute to his team for completing the rollout and touted the benefits it will bring.
Thanks to the team’s hard work over many months, people in the Western Isles can now begin to enjoy the benefits that fast, fibre broadband brings to these shores, he said.
This spider s web of submarine fibre optic cables is delivering a seismic shift in communications for Scotland s island communities, bringing them in closer touch with the rest of the world than ever before.”
The rollout of services in the area has been funded by a 146m project to connect the Outer Hebrides with broadband in the years ahead.
The majority of premises are expected to be able to access services by 2016.
Digital economy minister Ed Vaizey described the latest milestone as evidence that government funding for broadband is generating clear benefits.
“This is brilliant news for homes and businesses on the Outer Hebrides who can now, for the first time, access superfast speeds, he said.
“The UK government is investing 120m in Scotland as part of its transformation of the UK’s digital landscape that will see 95 percent of the nation have access to superfast speeds by 2017.”
The switch-on comes just a week after it was confirmed that 95 percent of all premises in Cornwall and the Isles of Scilly can now access superfast broadband services2.
Around 30 percent of the connections are fibre-to-the-premise.