Wednesday, March 18, 2015

OSBORNE DELIVERS FINAL BUDGET BEFORE UK ELECTION

UK finance minister George Osborne has been hailing Britain's economic success while delivering his final budget before a general election.

He says that Britain is 'walking tall' again, and revealed the UK economy is expected to grow slightly faster than previously thought.

The Chancellor's tax and spending plans include an ambition to use improving public finances to pay off national debt and end a squeeze on public spending a year earlier than planned.

But the opposition Labour Party says his time in office has seen falling living standards and worsening public services.

Olly Barratt reports from London.

IN: "Conservative…
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DUR: 2.38 seconds.


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Conservative Chancellor George Osborne insists his economic plans have succeeded.

IN: "This is...
OUT: ...for you."
DUR: 12 seconds

There were no major giveaways - he doesn't have the money.

And this being a coalition budget, weeks before an election - some of the measures he did announce on tax and spending plans may never become reality if the Conservatives don't win that election.

But George Osborne says the biggest hurdle for his and everyone else's planning - is the eurozone.

IN: "A disorderly...
OUT: ...the world."
DUR: 20 seconds

Less than 50 days from an election neither the Conservatives nor opposition Labour have establisjed a meaningful lead in the polls - which predict there may well have to be another coalition of some form after May 7th.

Labour leader Ed Miliband has a clear line of attack on this budget - a refrain we will hear often in coming weeks.

CLIP

There were small cuts in alcohol taxes, a freeze in fuel duty, and a scheme aimed to helping people save up deposits to buy houses.

Small rabbits from a small hat because of continued attempts to cut the budget deficit.

But some - like Dr Steve Davies from the Institute of Economic Affairs - believe they demonstrate what's wrong with the UK's budget system.

IN: "Basically...
OUT: ...in Parliament."
DUR: 29 seconds

But that's not likely to change soon - in fact there could be another budget within weeks of May's election.

Depending on who wins it and how long the process of coalition-forming takes - assuming it's needed.

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Olly Barratt
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