UK budget: Updates, news and analysis - CNBC Live Events

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UK budget: Updates, news and analysis

Britain's Chancellor George Osborne revealed that the growth forecasts for the U.K.'s economy had been hiked for this year and next, as he presented his budget to parliament on Wednesday.

  • Here's a quick summary of Osborne's main points in the budget:

    ECONOMY: Austerity is working but we need to keep reducing the deficit
    SAVINGS: Tax-free ISA allowance raised to £15,000 a year; savers' 10p rate of tax abolished
    PENSIONS: Pensioners will not have to buy an annuity; removes tax restrictions on pension access
    TAX: Poorer and middle-income workers will be helped by a rise in the personal tax allowance to £10,500
    ENERGY: Fuel duty frozen and businesses given help with carbon payments
    VOTE FOR ME: Lowering tax on beer and bingo; taxing super-rich on private jets and property
    by Catherine Boyle edited by Katrina.Bishop 3/19/2014 1:37:53 PM
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