George Osborne delivered the coalition's final Budget before the election today - and possibly his final one as chancellor.
The Conservatives and Labour are neck-and-neck in the polls as May 7 looms and today's Budget was a chance for Osborne and David Cameron to ram home the message that the Tories are the party to trust with the economy.
Ahead of the election, the Chancellor announced plans to reduce the scale of his planned spending cuts in the final year of the 2015-20 parliament. The move follows a rare dispute between him and David Cameron, who is said to have warned Osborne that the deeper cuts he favoured could lose the Tories the election.
Tax on income from savings will be abolished for millions of people as Osborne woos pensioners and “hard-working taxpayers”.
UK economic growth has benefited from the falling price of oil, an uplift in European growth thanks to cash injections from the European Central Bank and a decreasing borrowing costs - three areas, however, that Osborne has had little control over.
Fortunes have improved: the UK economy grew by 2.6 per cent last year.Reuse content