final year’s autumn statement painted a rosy picture of rising incomes and revenues. Now the global economy is slipping back,what will the chancellor effect?George Osborne is struggling to hit his financial targets. And like an archer facing strong headwinds, the chancellor will almost certainly be forced to adjust his sights in the budget this week to meet his promise of a surplus in the government’s finances by 2020.
For months Osborne has warned that storm clouds are gathering over the global economy and that this poses a threat the UK and, or by implication,the exchequer. It is these factors that he will blame for blowing him off course. Yet his own fiscal charter’s aim of a budget surplus must still be met. Here are seven areas he may tackle to raise taxes and slice spending.
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Source: theguardian.com