The Budget is an annual event in which the UK’s future economic plans are outlined by the Chancellor of the Exchequer.


The latest chancellor’s budget has been seen as one of the most divisive in recent history. The first Tory-only cabinet in 19 years has provided promises of investment and tax reliefs that are a boon for many. However cuts in

Aside from the traditions of the red box and the chancellor having an alcoholic drink while delivering his speech, both which still stand to this day (although only one of them is usually still adopted), it can sometimes be difficult …

Surprise July Deficit Comes as Blow to UK Government

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).

Even though the deficit was relatively low, it has been normal for July to be

Key Points Budget

Chancellor George Osborne has delivered his 2013 budget. Here are some of the key points.

Income Tax
• The tax free allowance to be raised to £10,000 in 2014, a year earlier than planned.

• Interest free loans up

Autumn Statement Key Points

Autumn Statement Key Points

Chancellor of the Exchequer George Osborne has addressed Parliament on the government’s plans for the future of the economy.

Here are some key points.

Benefits and Pensions:

Most working age benefits to rise by one percent;

Tax Gap at £32 Billion

HMRC’s estimated tax gap for 2011/2012 has been stated as being £32 billion, up £1 billion from the previous year.

The tax gap is defined as the amount of tax that is due to the government that is not paid.

UK Back in Recession

UK Recession has returned after the economy shrunk by 0.2 percent in the first three months of 2012.

The Office for National Statistics (ONS) said the contraction was caused by a sharp fall in construction output.

BBC economics editor Stephanie

Scale of Tax Avoidance Revealed

The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.

The findings show that nearly 1,000 British taxpayers who earn over £1 million per year are paying less than 30 percent of

Key Points of George Osborne’s Autumn Statement

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.

He then announced a number of measures that have …

Fuel Duty Increase Scrapped in Budget

Fuel duty increases – We discuss here.

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 …