Budget 2012

Budget 2012 is being touted as the most important Budget that Chancellor George Osborne has had to deliver. The next General Election is not too far away, and the most recent GDP figures from the Office for National Statistics showed negative growth in the last quarter of 2011 - two consecutive quarters of negative growth and the UK is officially in recession.

The coalition Government now faces the difficult task of boosting economic growth at a time when household budgets are already overstretched, whilst attempting to keep voters on-side. The Autumn Statement prioritised business growth, but many commentators argue that tangible results have yet to be seen.

Many economists claim that businesses are the only tool that the Government has available to jump start growth in the economy, so more initiatives to boost funding and entrepreneurs are expected. Meanwhile, higher rate taxpayers are the likely targets of cutbacks, as the coalition Government already speaks of introducing a mansion tax and reducing the higher rate pension relief.

Whatever happens, we will be reporting on it live on Budget day - 21st March 2012.