March 11, 2020

Everything you need to know about the 2020 Budget

Six things you need to know

Our budget delivers for the British people, levelling up our economy and delivering on our manifesto pledges. Here’s the top 6 things you need to know about the 2020 budget:

  1. It makes sure the NHS has all the resources it needs, with 50,000 more nurses and 40 new hospitals.
  2. It keeps the cost of living low with an over £200 tax cut for the typical family.
  3. It increases the National Living Wage to boost the wages of the lowest paid. 
  4. It keeps people safe by increasing funding for counter-terrorism and our intelligence community.
  5. It delivers £500 million every year to fill potholes, speeding up journeys, reducing vehicle damage and making our roads safer.
  6. And it pledges £9.5 billion to build affordable homes, helping people onto the housing ladder.


This Budget helps hard working families

We promised to deliver green growth and protect our environment. Flooding has had a devastating impact on people across the United Kingdom. So we will double the current investment in flood and coastal defences to £5.2 billion over six years. That means we will be better protecting 336,000 homes across the country. We will also provide £120 million to the Environment Agency to repair assets damaged by recent floods. 

We'll boost recycling and reduce plastic pollution by introducing a new plastic packaging tax. From April 2022, the plastic packaging tax will incentivise the use of recycled plastic and help reduce the scourge of plastic waste. We will set the rate at £200 per tonne of plastic packaging that contains less than 30% recycled plastic. 

And we will find £500 million over the next five years to support the rollout of a fast-charging network for electric vehicles. That's to ensure drivers will never be more than further than 30 miles from a rapid charging station. To ensure this money is spent effectively we will complete a comprehensive review into elective vehicle charging infrastructure. To decarbonise the transport sector, we expect 97% of cars and vans to be zero emission by 2050.  

Investing for Better Public Services

Increasing funding for counter-terrorism and our intelligence community to keep people safe. This includes £83 million for counter-terrorism policing and £31 million for the UK intelligence community. We will also provide an additional £67 million so our intelligence agencies can build on their world-leading technological capabilities and protect the UK’s security.

Supporting veterans with £10 million for Armed Forces mental health charities. We will commit £10 million to Armed Forces Covenant Fund Trust to support veterans with mental health needs.

Investing in our Infrastructure

If you need to know one thing about today’s Budget, it’s that it delivers on our promises to the British people and gets things done.

We’ve made a clear commitment to level up our whole United Kingdom, with opportunity for all.