Budget 2012: Overview

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An overview of the key points of Chancellor George Osbourne’s Budget yesterday.

Armed Forces

It was announced that the cost of operations in Afghanistan was £2.4 billion less than first expected. The money saved will see an additional £100 million used to improve military accommodation.

Families wlfare grants were doubled and personnel who are serving overseas will receive 100% relief on an average council tax bill.

Borrowing

Borrowing for this year is expect to be £126 billion which is £1 billion less than first thought. Borrowing is also predicted to be £120bn for 2012-13 and £98bn for 2013-14. Borrowing has also been forecast to fall to £21 billion by 2016-17.

For full article see Federal Management.co.uk

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