Chancellor George Osborne has delivered his fourth budget amidst news of continuing pressure on public finances and poor economic conditions. His “aspiration” budget has halved the growth forecast, but has also provided some good news for hard working people and the low paid, while putting in place measures to curb both tax avoidance and tax evasion.
The meeting of the G20 Finance Ministers over the weekend has provided yet more strong signals that the eurozone must sort out the current debt crisis which is having a marked affect on the global economy.
However, nothing of any substance has emerged from the meeting, except for a rise in global stocks following the strong words. The UK Chancellor George Osborne said that it was not until the summit of 23 October that he expected