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1983 United Kingdom budget

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Howe described his final budget as one designed to "further the living standards and employment opportunities of all our people", and announced tax cuts that amounted to around £2bn for individuals and £750m for industry. This included an increase in personal allowances worth 14%, which was 8.5%
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Some Conservatives expressed their disappointment that no changes had been made to income tax, to which Howe responded, "It cannot be put right in one Budget or even one Parliament".
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on beer was increased by 1p. There was also a 5p duty increase on a bottle of wine, a 25p increase on a litre of spirits, and a 3p increase on a packet of 20 cigarettes.
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and the last to be presented by Howe. He announced a programme of tax cuts worth around £2bn for individuals and £750m for business, as well as increasing
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The Conservatives went on to win the general election, but the 1983 budget would prove to be Howe's last as chancellor. He was shortly to be replaced by
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companies were granted tax relief worth around £800m, which would be phased in over four years. There was an increase in Social Security benefits.
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on the profits of small businesses was reduced by 2% to 38%, while the employers' national insurance surcharge was reduced from 1.5% to 1%.
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went on to win the election, but Howe would subsequently be replaced as chancellor by
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on 15 March 1983. It was the final budget to be presented before the
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higher than needed to keep pace with the rate of inflation, but
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Vote of no confidence in the Callaghan ministry (1979)
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Index


48th
Conservative Party
Chancellor
Geoffrey Howe
1982
1984
Geoffrey Howe
Chancellor of the Exchequer
House of Commons
1983 general election
personal allowances
Social Security
Conservatives
Nigel Lawson
post-election cabinet reshuffle
income tax
Corporation Tax
North Sea oil
Excise duty
Labour
Michael Foot
Leader of the Opposition
Social Democratic Party
Roy Jenkins
Nigel Lawson
Department of Energy
1984 budget

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