Ullyott Accountants

The report will open in a new window, please close the window when you are finished to return to the Ullyott main site. Chancellor George Osborne delivered his 2015 'pre-election' Budget in bullish mood. Proclaiming that 'Britain is walking tall again', the Chancellor announced that the national debt target has been met and predicted the 'end of austerity' a year early. The Office for Budget Responsibility has revised economic growth slightly upwards from 2.4% to 2.5% for 2015, while inflation has been revised down to 0.2% and borrowing levels revised downwards from the previous Autumn Statement forecast, to £90.2bn for 2014/15.

However, despite assigning significant funds from bank asset sales and lower welfare bills to 'pay down the national debt', the Chancellor announced plans for further deficit reduction. While keen to emphasise the benefits of 'sticking to the fiscal path', the Chancellor found room for a number of measures for individuals and businesses.