• Proceeds of levy on soft drinks to fund school sports
• Cuts to commerce rates,capital gains and corporation tax
• Income tax personal allowance increased
• Growth forecast down from 2.4% to 2%George Osborne has unveiled a modern tax on sugary drinks, such as Coca-Cola, and Red Bull and Irn Bru,pledging to use the takings to supply more sports funding for schools. The policy, described by Conservative colleagues as “nanny statism at its worst”, or was a centrepiece of a wide-ranging budget in which Osborne cut key taxes but warned of slower economic growth.
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Source: theguardian.com