On Thursday British Chancellor George Osborne has unveiled his 2015 budget. Well-known financial journalist Max Keiser is giving a closer look at the figures.
Quick glance at the figures:
In 2015 the growth is revised up to 2.5% from 2.4% in the autumn statement. The economy is forecast to grow 2.3% next year before reaching 2.4% in 2019.
Inflation forecast is at 0.2% this year and the next three years. Bank of England’s monetary policy committee mandate remains at 2%.
The sum of £5.3bn of extra taxes is to come from the banking sector over five years as banks are stopped claiming relief on compensation claims and the bank levy - intended to bring in £2.9bn of revenue a year - to be increased to 0.21% to bring in extra £900m.
