A file photo of the  . The  delivered the budget today, an annually-held audit of the country's finances deciding how taxpayers' money should be spent. He set out plans to boost the in his fourth budget, as well as stating the economy will grow by 0.6\% — half his prediction four months ago. As a measure to attract to the , he announced to reduce from 21\% to 20\% taking effect from April 2015. The rate of corporation tax has fallen from 28\% in 2010 to the current level of 21\%. The  is to have lower rates of corporation tax than the  at 40\%,  at 33\%, and  at 29\%. The (OBR) stated the government debt reduction programme to reduce the will miss its targets. The government has forecast the will begin to fall by the financial year 2015/2016, while OBR says national debt will reach a high of 85.6\% of , £1.58 trillion, in 2016/17. Osborne defended the government efforts to reduce the deficit and said: "Our judgement has since been supported by the  , the and the of the ." In response to the Budget speech, the  said: "At the worst possible time for the country. It’s a downgraded budget from a downgraded Chancellor [...] Debt is higher in every year of this Parliament than he forecast at the last Budget. He is going to borrow £200 billion more than he planned." The  told the BBC in an interview, the "age of austerity" would probably end within the current decade, but made no more definite forecast.
A file photo of the British George Osborne . The British George Osborne delivered the budget today, an annually-held audit of the country's finances deciding how taxpayers' money should be spent. He set out plans to boost the in his fourth budget, as well as stating the economy will grow by 0.6\% — half his prediction four months ago. As a measure to attract to the , he announced to reduce from 21\% to 20\% taking effect from April 2015. The rate of corporation tax has fallen from 28\% in 2010 to the current level of 21\%. The United Kingdom is to have lower rates of corporation tax than the USA at 40\%, France at 33\%, and Germany at 29\%. The (OBR) stated the government debt reduction programme to reduce the will miss its targets. The government has forecast the will begin to fall by the financial year 2015/2016, while OBR says national debt will reach a high of 85.6\% of , £1.58 trillion, in 2016/17. Osborne defended the government efforts to reduce the deficit and said: "Our judgement has since been supported by the IMF , the and the of the ." In response to the Budget speech, the Ed Miliband said: "At the worst possible time for the country. It’s a downgraded budget from a downgraded Chancellor [...] Debt is higher in every year of this Parliament than he forecast at the last Budget. He is going to borrow £200 billion more than he planned." The Vince Cable told the BBC in an interview, the "age of austerity" would probably end within the current decade, but made no more definite forecast.
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British George Osborne
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British George Osborne
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United Kingdom
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USA
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France
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Germany
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IMF
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Ed Miliband
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Vince Cable