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UK Chancellor George Osborne unveiled his budget for what he described as an “aspiration nation” with help for homebuyers and drivers, together with a 1p reduction in tax on a pint of beer.
Despite growth forecasts being halved to 0.6 per cent for 2013, Osborne promised that extra revenue from the push against tax avoidance plus pension reform and civil service pay cuts gave him the finances to fund new projects.
He also froze fuel tax, increased the personal tax free allowance to £10,000 (€11,700) and cut corporation tax by 1 per cent to 20 per cent.
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