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On 19 March 2014, the Chancellor George Osborne delivered his fifth Budget statement, which he described as a Budget for “building a resilient economy” and pledged to help “the makers, the doers and the savers”.
Osborne made his announcement against the backdrop of improving but uneven growth figures. The OBR’s forecasts for GDP growth have been revised up for the current as well as the next two (although longer-term growth forecasts have actually been revised down). Despite the positive news on growth, the Chancellor made the case for deficit reduction continuing to be his top priority and stated that “faster growth alone will not balance the books”. He said that more hard decisions and more cuts were needed and it was only the current government that has the credibility to deliver them and ensure “economic security for the people ...Read more from this release