When news happens text pix and video to 80360. Start your message with BE then leave a space.
HAVE YOUR SAY: What would you like to see in tomorrow's budget?
1:51pm Tuesday 19th March 2013 in News
IT IS a make or break budget to lift the country out of its worst slump since the Great Depression of the 1930s.
Chancellor George Osborne will tomorrow unveil his fourth Budget – with the clock counting down to the next General Election, which must be held by 2015.
It will be a chance to restore faith among voters in the handling of the nation’s struggling economy and finances. But, more importantly, many economic experts claim the contents of the iconic red box will decide the destiny of our stalled economy.
Last night it was predicted that Mr Osborne will be forced to reveal a downgraded growth forecast and a £8 billion borrowing overshoot.
With the UK teetering on the brink of a triple-dip recession and the country’s once-cherished AAA credit rating lost, he faces rising demands to abandon his Plan A, that is tackling the nation’s giant deficit.
But the Chancellor believes that failing to tackle the debt and deficit problems could leave the UK on the brink of a crisis like that in Cyprus.
He said tomorrow’s Budget would contain measures to help those who aspire to work hard and get on but would also set out the scale of further curbs on public spending from 2015. He indicated there would be help with the cost of childcare and announced that a £72,000 cap on the amount people must pay for social care would be brought forward to 2016.
The £144-a-week single state pension will also be introduced a year ahead of schedule in 2016.
He has also backed plans put forward in Lord Heseltine’s growth report to give local communities and businesses a greater say on how money is spent in their areas.
But on his central aim of restoring the nation’s finances Mr Osborne said there was “no miracle cure” and “painstaking work” was required.
He is also tipped to announce extra investment in house building and road projects – called for by leading business groups – and help for people to buy homes.
Last year 37p was slapped on a packet of cigarettes. Expect more of the same.
Another easy target is alcohol. Mr Osborne has been tipped to defy calls by the struggling pub trade for a freeze on the so called “beer duty escalator”. Since this escalator was introduced in 2008 duty has risen by two per cent above inflation every year but in that time beer duty has risen by 43 per cent.
We want to know what you'd like to see in tomorrow's budget. Is there any one practical measure that would make your life easier? Let us know in the comments...