The Budget

The Budget

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Budget 2012: Key announcements at a glance

Chancellor George Osborne has delivered his third Budget at the House of Commons. Here is a summary of the main points.


Oil firms 'ready to abandon' North Sea contracts

SOME North Sea oil companies are mere "days" away from cancelling or postponing major investment plans - putting thousands of jobs at risk - as a result of the Chancellor's controversial £10 billion oil tax grab, industry leaders have warned.

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One in three feels worse off after The Budget

A THIRD of people feel worse off after this week's budget, a new poll has claimed.

North Sea mutiny deepens over Osborne's oil tax grab

THE cracks in the UK's ruling coalition over George Osborne's raid on North Sea oil and gas widened yesterday when another Lib Dem MP condemned the windfall tax.

Are you a Budget winner or loser?

HELP for hard-pressed motorists and a moribund housing market were high up Chancellor George Osborne's Budget agenda with the introduction of a fuel stabiliser, shared equity schemes and bulk stamp duty plans.

Pensioners attack cut to winter fuel allowance

THE Chancellor has been accused of betraying pensioners after it emerged he was cutting the winter fuel allowance despite rising energy prices.

John Swinney demands same tax powers as Stormont

Finance Secretary John Swinney has demanded that Scotland be given responsibility for corporation tax following moves to give Northern Ireland the same power.

'One in three chance' of tax rises or even deeper cuts

A RESPECTED economic think tank has warned Chancellor George Osborne has a one-in-three chance of being forced to go back to the country for more taxes or deeper cuts to balance the economy.

Coalition faces Lib Dem revolt on £10bn oil tax

GEORGE Osborne is facing a Liberal Democrat rebellion over his £10 billion tax raid on North Sea oil revenues, as industry leaders condemned the measure, claiming it would cost investment and jobs in Scotland.

Brian Monteith: Budget is a tax on our lifestyles

Disappointed with the Budget? I'm fuming. What was the point of voting in a Tory chancellor such as George Osborne if he behaves like Gordon Brown or Alistair Darling?

Osborne's sleight of hand exposed in Budget pledges

CHANCELLOR George Osborne pledged a Budget to take the British economy from rescue to reform, with tax cuts for many. Yet he delivered a long list of open promises, while raising billions via new stealth taxes.

George Osborne's enterprise zones policy 'not effective' at creating new jobs

SCOTLAND should resist mimicking George Osborne's decision to resurrect Enterprise Zones (EZs) as they are "not effective" at creating jobs, the country's top accounting body has warned.

The Budget: main points

FUEL DUTY 1p increase planned for next week scrapped Fuel duty cut by 1p a litre

The Budget brains: Mandarins behind the scenes

THE Budget has been prepared over the last few months by a tight-knit group of ministers assisted by an army of Whitehall mandarins.

The Budget: new starts

The Chancellor estimated that 9,500 young unemployed Scots could be among the 100,000 people to benefit from a new national work experience programme, while an estimated 3,900 unemployed Scots could also benefit from the New Enterprise Allowance (NEA) to support 40,000 start-up businesses.

The Budget: Plans for 21 new enterprise zones across England

The Chancellor unveiled plans to create 21 new enterprise zones across England, offering discounts on business rates and "radically" reduced planning restrictions.

The Budget: Scotland wins extra £112m thanks to Barnett formula

The Budget included an extra £112 million made available to the Scottish Government as a consequence of increased spending by UK departments.

The Budget: Beam me up, Scotland as spaceport hopes rise

THE prospect of space tourists blasting off from Scotland received an unexpected boost in the Budget, which contained measures to facilitate plans to set up a launch site in Lossiemouth.

Clapped-out UK finally squeezed to the last drop

THEY say the devil is in the detail. But if you had your ear pressed up against the radio for every second of George Osborne's Budget speech yesterday you wouldn't have found out much about how your personal finances are about to change.

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