Feeds

Osborne promises 'Budget for growth'

Tax break: 25m can now fill up their cars. Once. Halfway

The next step in data security

Chancellor George Osborne is promising this afternoon's Budget will be a strategy for growth when set against big cuts in public spending, which seem likely to push the UK in the opposite direction.

An increase in personal tax allowance, the amount you can earn without paying tax, is widely expected. The Beeb reckons this will give 25 million UK citizens a whopping £45 a year – enough for a small cup of petrol.

Allowances are going up by about £600, but don't spend it yet – the change comes into force in April next year.

Osborne's job has been made harder by inflation and growth numbers released yesterday. The fear is that inflation will force the Bank of England to increase interest rates, which will reduce the UK's limited growth and result in "stagflation".

The Consumer Price Index, the government's favoured measure, stands at 4.4 per cent, up from 4 per cent in January: this compares to an EU average of 2.8 per cent.

CPI was pushed down by booze and ciggy prices, which were down 1.1 per cent. It was pushed up by costs of domestic heating, clothes and shoes.

The Retail Price Index is up as well – to 5.5 per cent, compared to 5.1 per cent in January.

First-time buyers are also getting help, according to widely leaked plans. Some 10,000 people will get a 20 per cent low-cost loan for new-build homes.

Osborne is also expected to do something to alleviate fuel prices – possibly by delaying the planned rise in fuel duty due next month.

The Budget speech will begin at 12.30; we'll have more coverage shortly after that. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.