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Our Summer Budget delivers security for working people - and delivers on the promises upon which we were elected:

  • Growing the economy and getting the national finances under control with the national debt falling. We have a balanced plan to finish the job on the deficit and run a surplus - so our country lives within its means and we’re better prepared for whatever storms lie ahead.
  • Supporting working people with lower taxes. From next year you will be able to earn £11,000 before paying any income tax at all, boosting the typical taxpayers' wages by £80 in total. We will also raise the 40p rate to £43,000, lifting 130,000 people out of this higher tax rate. This is the first major step to delivering our election commitments.
  • Cutting tax on business by reducing Corporation Tax to 18 per cent. We’ve already taken this rate to the lowest in the G20 and aligned it for large and small businesses, but we cannot afford to stand still so will cut it further to send out the message that Britain is open for business.
  • Higher pay with a new National Living Wage. We will introduce a new National Living Wage for all working people aged 25 and over. It will start next April at £7.20 an hour and we expect it to reach over £9 by 2020. It will mean two and a half million people get a direct pay rise. Those currently on the minimum wage will see their pay rise by over a third this Parliament, a cash increase for a full time worker of over £5,000. We’re also increasing the Employment Allowance by 50 per cent so a firm will be able to employ 4 people full time on the new National Living Wage and pay no national insurance at all.
  • Taking the family home out of inheritance tax. Today there are more families pulled into the inheritance tax net than ever before. Our new residential allowance will mean you can pass up to £1 million on to your children inheritance tax free.
  • Strengthening the nation’s defences. We will meet the NATO pledge to spend 2 per cent of our national income on defence – not just this year, but every year of this decade.
  • Putting welfare spending on a sustainable footing. Britain is home to 1 per cent of the world’s population; generates 4 per cent of the world’s economy; and yet pays out 7 per cent of all the welfare spending. This is not sustainable - so we have set out a package to save £12 billion from welfare so we better protect spending on public services.
  • Tackling tax avoidance, evasion and aggressive tax planning. The package of measures put together finds the further £5 billion we promised at the election. We’re also tackling fundamental unfairness in the non-dom regime by abolishing the permanent non-dom tax status.
  • Improving the productivity of our economy. We will soon set out our comprehensive Plan for Productivity, but today I’ve announced a new Roads Fund. From the end of this decade, every single penny raised in Vehicle Excise Duty in England will go into that Fund to pay for the sustained investment our roads so badly need. This, alongside other measures to cut taxes for business, including an increased permanent Annual Investment Allowance at £200,000, will support business to invest and create more jobs.

This Budget keeps us moving from a low wage, high tax, high welfare economy to a higher wage, lower tax and lower welfare society. It puts security first. The economic security of a country that lives within its means. The financial security of lower taxes and a new National Living Wage. The national security of a country that defends itself and its values. It is a big Budget for a country with big ambition.

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We will introduce a new National Living Wage for all working people aged 25 and over. It will start next April at £7.20 an hour and we expect it to reach over £9 by 2020.

It will mean two and a half million people get a direct pay rise. Those currently on the minimum wage will see their pay rise by over a third this Parliament, a cash increase for a full time worker of over £5,000.

We’re also increasing the Employment Allowance by 50 per cent so a firm will be able to employ 4 people full time on the new National Living Wage and pay no national insurance at all.

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We're strengthening the nation’s defences, and committing to meet the NATO pledge to spend 2 per cent of our national income on defence – not just this year, but every year of this decade.

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We're supporting working people with lower taxes.

From next year you will be able to earn £11,000 before paying any income tax at all, boosting the typical taxpayers' wages by £80 in total. We will also raise the 40p rate to £43,000, lifting 130,000 people out of this higher tax rate.

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We'll restore common sense to our legal system by scrapping the Human Rights Act and introducing a new British Bill of Rights.

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The latest employment figures from the ONS show wages are rising, unemployment is falling - and our plan is delivering more security for hardworking families across Britain.

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The Childcare Bill will double free childcare available for all working parents of 3 and 4 year-olds to 30 hours a week. And to underline our commitment to support working families, the Prime Minister is announcing plans to introduce the changes for some families a year earlier than planned, together with a commitment to increase the average funding rates paid to childcare providers.

Our message is clear – this Government is on the side of working people – helping them get on and supporting them at every stage of life.

That is exactly why we are pressing ahead with these reforms – so that not a moment is lost in getting on with the task – going further than ever before to help with childcare costs, helping hardworking families and giving people the opportunity to get into work.

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Behind today's Queen’s Speech is a clear vision for a country that offers security and opportunity for everyone - at every stage of life.

We want to build a country where - whoever you are and wherever you live - you can have the chance of a good education, a decent job, a home of your own and the peace of mind that comes from being able to raise a family and enjoy a secure retirement.

And the bills announced in today's Queen's Speech are about delivering on that ambition:

  • Full Employment and Welfare Benefits Bill – setting out our ambition to achieve full employment, create 3 million more apprenticeships, expand our support for troubled families, and continuing to reform welfare and bring down the benefits bill.
  • Enterprise Bill – backing businesses to create more jobs by sweeping away burdensome red tape, getting heavy handed regulators off firms’ backs and creating a Small Business Conciliation Service to help resolve disputes.
  • Trade Unions Bill – ensuring that strikes can only go ahead with genuine support from members, minimising disruption for hardworking taxpayers.
  • Childcare Bill – helping families byproviding for an increased entitlement to 30 hours a week of free childcare available to eligible working parents of three- and four-year-olds, and requiring local authorities to publish information about the provision of childcare in the local authority area.
  • Housing Bill – give more people the opportunity to buy a home byextending the Right to Buy to housing association tenants; building 200,000 new Starter Homes for first-time buyers; helping more people to build their own home; and working to further increase the level of housebuilding.
  • Energy Bill – continue to increase our energy security, including a strong new regulator to make sure we get the most from our oil and gas reserves, and put onshore wind into the locally led planning system.
  • Immigration Bill – making illegal working an offence and creating a new agency to crack down on cases of exploitation. It will also make it harder for illegal migrants to live in the UK and make deportation faster.
  • Education and Adoption Bill – speeding up intervention in failing schools and continuing our significant improvements in the adoption system – so all children get the best start in life.
  • Cities and Local Government Devolution Bill – devolving the necessary powers and responsibilities to city-wide areas with elected metro mayors – helping all parts of our country benefit from a growing economy.
  • HS2 Bill – enabling the building of phase one of the new North-South rail line.
  • Scotland Bill – delivering in full the recommendations of the Smith Commission Agreement by transferring new tax and borrowing powers.
  • Wales Bill – securing a strong and lasting constitutional settlement and devolving wide-ranging powers to Wales.
  • Northern Ireland Bill – providing full and independent investigations into unsolved Troubles-related deaths; enabling victims and survivors to seek and privately receive information, and creating a new independent Oral History Archive.
  • Extremism Bill – delivering new powers to tackle extremists who reject our values of democracy, equality, free speech and respect for minorities.
  • EU Referendum Bill – giving the British people a voice and a real choice on Europe in a referendum by the end of 2017.
  • Investigatory Powers Bill – updating legislation to ensure that our law enforcement and intelligence agencies have the powers and capabilities they need to keep Britain safe.
  • Policing and Criminal Justice Bill – continuing to reform policing to give police officers more freedom to do their job of making our streets safer, whilst at the same time ensuring that they are accountable to the communities they serve.
  • Psychoactive Substances Bill – making it an offence to produce or supply ‘legal highs’, restricting their supply and ensuring that people have less opportunity to get them. It will also give powers to the police to seize and destroy ‘legal highs’.

This is a Queen’s Speech for working people, from a One Nation Government that will bring our country together - and build a brighter, more secure future for hardworking families. SHARE to let friends know.

We’re committed to creating a truly 7-day a week NHS.

Our National Health Service should be there for you and your family, wherever and whenever you need it.

By sticking to our plan to build a strong economy and deal with the deficit, we can invest more in the NHS and become the first country in the world to deliver a 7-day a week service.

We’ve already committed to investing an extra £2 billion this year, and will increase the NHS budget by an extra £8 billion annually by the end of the next Parliament – so our hospitals get the funding they need to provide a world-class health services at the weekend.

We all rely on the NHS and few things embody the spirit of One Nation more than our health service.

Our commitment to a 7-day a week service is about delivering the best care in the world for everyone in our country, and about protecting the values of the NHS: to ensure that free healthcare is always there wherever and whenever you need it.

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We’re committed to tackling extremism – and defeating it.

As the party of one nation, we’ll govern as one nation – and bring our country together by actively promoting British values, like democracy, the rule of law and equal rights.

These values are what define us as a society and to belong here is to embrace them.

We’ll confront extremism with new powers that are expected to include:

  • Banning Orders for extremist organisations that incite hatred and Extremism Disruption Orders to restrict people who seek to radicalise the young and vulnerable
  • Powers to close premises where extremists seek to influence others
  • Strengthening the powers of the Charity Commission to root out charities who misappropriate funds towards extremism and terrorism
  • Further immigration restrictions on extremists
  • A strengthened role for Ofcom to take action against channels which broadcast extremist content

We’ll also review the application of Sharia Law in this country and do more than ever before to help isolated communities, uniting the country behind our British, pluralistic values.

Those values are superior to anything the extremists offer. We will bring communities together to defeat extremism in all its forms and create a better future for our whole country.

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