Chancellor Rishi Sunak has delivered his first Budget in the House of Commons, announcing the government's tax and spending plans for the year ahead.We have listed points most relevant to BHETA members below.Coronavirus response• £5bn emergency response fund to support the NHS and other public services• Statutory sick pay will be paid to all those who are advised to self-isolate, even if they have not presented with symptoms• Self-employed workers who are not eligible for sick pay will be able to claim contributory Employment Support Allowance• The ESA benefit will be available from day one, not after a week as now• Firms with fewer than 250 staff will be refunded for sick pay payments for two weeks• Small firms will be able to access "business interruption" loans of up to £1.2m• Business rates in England will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value below £51,000Environment and energy• Plastic packaging tax to come into force from April 2022. The Government has launched a consultation on the Plastic Packaging Tax that is open until May 2020. This consultation seeks views on the scope of the tax, the liability of the tax and evidence bases. Manufacturers and importers whose products have less than 30% recyclable material will be charged £200 per tonnePersonal taxation, wages and pensions• National Insurance Contributions tax threshold to rise from £8,632 to £9,500 - saving 500,000 employees just over £100 a year• Firms eligible for small business rates relief will get £3,000 cash grant• Entrepreneurs' Relief will be retained, but lifetime allowance will be reduced from £10m to £1mThe state of the economy and public finances• Economy predicted to grow by 1.1% this year, revised down from 1.4% a year ago• The figure, which does not take into account the impact of coronavirus, would be the slowest growth since 2009• Growth predicted to rebound to 1.8% in 2021-22, 1.5% in 2022-23 and 1.3% in 2023-24• Inflation forecast of 1.4% this year, increasing to 1.8% in 2021-2022
