“The sun is starting to shine and we are fixing the roof”, says Chancellor George Osbourne while delivering the final budget to the parliament. His announcement, which started at 12:30 is presenting plans to scrap self-assessment tax returns and the abolition of savings tax for millions of people.
“Debt as a share of GDP falls from 80.4% in 2014-15; to 80.2% in the year 2015-16. And it keeps falling to 79.8% in 2016-17; then down to 77.8% the following year, to 74.8% in 2018-19 before it reaches 71.6% in 2019-20,” said Chancellor Osbourne. He added, ” the Labour leader predicted Britain would lose a million jobs. In fact 1.9 million jobs have been gained. Ordinary families are around £900 better off.”
The chancellor has previously warned that there will be no pre-election gimmicks.