The Chancellor, George Osborne stated some surprising declarations.  He says that he intends to increase net taxation or decrease it in the next 12 months.  He says that the economic growth of the country will be lesser than as it was anticipated from 2.1% to 1.7%, showing a slow economy.  Motorists, who have been suffering from the high prices of fuel, will have a penny per liter price cut in gas.  Duties regarding alcohol are the same but tobacco tax will rise by 2%.  The chancellor has also stated that he had increased the tax threshold that allows people to begin paying tax at £630.  It will generate a £45 savings in a year; but this will only start from April 2012.

Excerpt:

“In his Budget today, the Chancellor George Osborne made a number of surprise announcements affecting personal finances.”

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http://www.moneyhighstreet.com/personal-finance-news/budget-highlights/

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