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==Key points==
* 20% rate of income tax extended by £500 to £2,500
* 25% basic rate of income tax frozen
* 40% higher income tax rate frozen at £23,700
* Personal tax allowances frozen
* VAT on domestic fuel to be charged at 8% from April 1994, rising to 17.5% from April 1995
* Stamp duty threshold increased
* [[Mortgage interest relief at source|Mortgage relief]] reduced to 20%
* [[Excise duty]] on petrol increased by above the rate of inflation
* Duty on packet of 20 cigarettes increased above rate of inflation
* Duty on beer increased above rate of inflation
* Excise duty increase excludes [[Scotch]]
==References==
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