George Osborne has today delivered his eighth budget against the backdrop of a darkening economic outlook.
While aiming for a further £3.5bn of savings in 2019/20, the chancellor said he was promising to steady the economy, but the Office for Budget Responsibility has made some significant downgrades to its growth forecasts for every year until 2020.
Reforms to stamp duty and rates for small businesses came amid warnings that heading for a Brexit would harm the UK economy and a headline-grabbing tax on sugary drinks. As always, though, the detail is in the fine print and Jeremy Corbyn called it a “culmination of six years of the chancellor’s failures”.
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