The Budget is an annual event in which the UK’s future economic plans are outlined by the Chancellor of the Exchequer.
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The UK’s public sector recorded an unexpected deficit in July. Public sector net borrowing totaled £62 million, according to the Office of National Statistics (ONS).
Chancellor George Osborne has delivered his 2013 budget. Here are some of the key points.
HMRC’s estimated tax gap for 2011/2012 has been stated as being £32 billion, up £1 billion from the previous year.
Recession has returned to the UK after the economy shrunk by 0.2 percent in the first three months of 2012.
The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.
Chancellor George Osborne gave his much anticipated autumn statement yesterday. He began by saying the Office of Budget Responsibility forecasts dropping to 0.9 percent in 2011 and 0.7 percent in 2012.
The planned increase in fuel duty of 4 pence per litre was scrapped in George Osborne’s budget yesterday. And a further 1 pence will be cut from pump prices immediately. The move will be paid for by an unexpected £2 billion tax on oil companies.