Budget at a Glance

Economy
Borrowing falls and growth increases. Government borrowing £1bn lower than expected, this year at £126bn and £120bn the year after, and £21bn by 2016/17, the structural deficit eliminated.
Office for Budget Responsibility revises UK growth forecast for 2012 to 0.8% - from 0.7%.

Income tax
From April 2013, the 50p top rate of tax cut to 45p.
Personal income tax allowance raised to £9,205 from April 2013, as Chancellor aims for £10,000 target. 24 million people will be £220 better off.
In... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...