Chancellor George Osborne has set the date of Wednesday 21 March for Budget 2012.
The Budget will see Chancellor George Osborne confirm many of the changes outlined in the draft legislation of the Finance Bill 2012 this week.
Tax rates and allowances will be confirmed across the board, as well as duties and other special measures. Some may not be disclosed until the day, others such as inheritance tax incentives for donations to charities have already been release as draft legislation for consultation.
Alongside this, George Osborne will also give a fiscal and economic update based on the latest report from the Office for Budget Responsibility (OBR).
The Autumn Statement at the end of last month saw Osborne announce a number of measures designed to kick start the economy. Small and medium sized enterprises were particularly targeted, with processes to ease credit and reduce the cost of borrowing to make it easier for them to develop and grow.
The Autumn Statement was welcomed by business groups, but the Budget in just over three months will give an update and will reveal whether Osborne’s recent measures proved a success.
