Chancellor George Osborne’s fourth Budget statement was delivered on 20 March 2013 against ongoing challenges within the domestic and global economies. The UK economy shrank by 0.3 per cent at the end of 2012, and lost its Moody’s AAA credit rating in February for the first time since the 1970’s. The morning of the budget also saw figures from the office of national statistics, which showed that the number of unemployed grew by 7,000 in the three months to January 2013. Announced alongside the Budget, the Office for Budget Responsibility (OBR) revised down its forecast for growth in 2013 to 0.6 percent from 1.2 per cent. It cited weaker than expected outlooks for consumer spending, business investment and exports for its decision.
Please click on the link below to view the full budget 20 March 2013 report:
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