Business news

The Chancellor was forced to revise his estimates for the rate at which the UK economy will shrink this year.

The Chancellor has delivered one of the most important Budgets in years against a backdrop of rising unemployment, soaring government borrowing and quite possibly the hardest hitting recession since the Second World War.

The government has set out plans for extra investment in the UK’s business and industrial future.

The government could fail to raise the amounts of money it anticipates following the Chancellor’s decision to introduce a new 45 per cent top income tax band, it has been claimed.

It is thought that the Chancellor may use the Budget to announce that last year’s temporary cut in stamp duty will be extended for a further three months.

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