Budget 2012

Budget boxThe Chancellor of the Exchequer, George Osborne MP, presented his Budget to Parliament today, 21 March 2012. This is the third Budget of the Coalition Government. In his Budget speech the Chancellor outlined how the Government plans to raise and spend money in the coming year. Some key points of the Budget include:-

  • From April 2013, the 50p top rate of tax will be cut to 45p
  • Automatic review of state pension age to ensure it keeps pace with increasing lifespans
  • Personal income tax allowance raised to £9,205 from April 2013

You can find all of the Budget documents online on the HM Treasury website.

The House of Commons Library has produced a briefing paper on the Background to the 2012 Budget, and a Research Paper on economic indicators.

The full text of the Chancellor’s statement is available from the HM Treasury website.

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