This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/uk-politics-35813973

The article has changed 22 times. There is an RSS feed of changes available.

Version 11 Version 12
Budget 2016: Osborne says UK must act now or pay later Budget 2016: George Osborne warns of impact of leaving EU
(35 minutes later)
Chancellor George Osborne says the UK is on course to clear its deficit despite facing a "dangerous cocktail" of global economic risks. Chancellor George Osborne has revised down the UK's growth forecast - and warned leaving the EU will put the economy at greater risk.
Unveiling his eighth Budget, he said the country was "well placed" to handle the risks if "we act now so we don't have to pay later". Unveiling his eighth Budget, he said the country was "well placed" to handle a "dangerous cocktail" of global economic risks if "we act now so we don't have to pay later".
He is to cut spending by an extra £4bn as the economy is in worse shape than he predicted four months ago. Growth for 2016 will be 2% - 0.4% lower than predicted last year, he said.
Labour branded the Budget a "press stunt" to hide Mr Osborne's failures. Mr Osborne will seek to save £3.5bn by 2020 through extra spending cuts.
In his biggest Parliamentary test to date, Labour leader Jeremy Corbyn will deliver the Opposition's response immediately after Mr Osborne's speech. But in a move that will have angered colleagues who think the UK would be better off out of the European Union, he cited the Office for Budget Responsibility's view that the UK will be "safer, stronger and more secure" if voters chose to remain in the EU in June's referendum.
Mr Osborne's package includes a £1.5bn plan to turn all state schools into academies and allow some to have longer days as the government seeks to show it can still deliver the changes it promised despite tougher economic times. Mr Osborne said the Office for Budget Responsibility had made clear its forecasts were based on the assumption the UK would remain in the UK and had warned that "there appears to be a greater consensus that a vote to leave would result in a period of potentially disruptive uncertainty".
The chancellor is expected to say the fragile state of the global economy means he will have to impose further public spending cuts to help meet his self-imposed target of eliminating the deficit by 2019/20. Mr Osborne confirmed that he has failed to meet the rule of debt falling as a proportion of GDP this year.
But he said the UK was still on course to cleared by 2019/20 thanks to the extra spending cuts, with a budget surplus of £10.4bn in 2019/20 and £11bn the following year.
He will tell MPs: "Our economy is strong, but the storm clouds are gathering again.He will tell MPs: "Our economy is strong, but the storm clouds are gathering again.
"Our response to this new challenge is clear. A Budget where we act now so we don't pay later."Our response to this new challenge is clear. A Budget where we act now so we don't pay later.
"In this Budget we choose the long term. We choose to put the next generation first.""In this Budget we choose the long term. We choose to put the next generation first."
Fuel duty Mr Osborne's package includes a £1.5bn plan to turn all state schools into academies and allow some to have longer days as the government seeks to show it can still deliver the changes it promised despite tougher economic times.
In his biggest Parliamentary test to date, Labour leader Jeremy Corbyn will deliver the Opposition's response immediately after Mr Osborne's speech.
The chancellor watered down planned tax credit and police budget cuts in his November Autumn Statement but sluggish growth since then has forced him to revise his calculations.The chancellor watered down planned tax credit and police budget cuts in his November Autumn Statement but sluggish growth since then has forced him to revise his calculations.
Speculation ahead of the Budget has centred on possible tax rises, including a claim by the insurance industry that another increase in Insurance Premium Tax is planned.Speculation ahead of the Budget has centred on possible tax rises, including a claim by the insurance industry that another increase in Insurance Premium Tax is planned.
He could also capitalise on low oil prices to raise fuel duty, although this would be opposed by many Conservative MPs, and slap extra tax on tobacco.He could also capitalise on low oil prices to raise fuel duty, although this would be opposed by many Conservative MPs, and slap extra tax on tobacco.
There have also been calls for some tax cuts, with suggestions of an increase in the level at which the higher rate of income tax kicks in.There have also been calls for some tax cuts, with suggestions of an increase in the level at which the higher rate of income tax kicks in.
On the investment side, Mr Osborne is set to commit £300m for transport projects, with the government funding the start of work on the Crossrail 2 rail line and new High Speed 3 link across the north of England.On the investment side, Mr Osborne is set to commit £300m for transport projects, with the government funding the start of work on the Crossrail 2 rail line and new High Speed 3 link across the north of England.
Almost half of the transport money committed was announced in the Autumn Statement.Almost half of the transport money committed was announced in the Autumn Statement.
The government has also announced a 'Help to Save' scheme under which would give low-paid workers a top-up if they put savings aside.The government has also announced a 'Help to Save' scheme under which would give low-paid workers a top-up if they put savings aside.
Shadow Chancellor John McDonnell, for Labour, called for "straight talking" from the chancellor, with more focus on long-term investment and "no more press releases about infrastructure projects or housing projects that aren't delivered and aren't properly funded".Shadow Chancellor John McDonnell, for Labour, called for "straight talking" from the chancellor, with more focus on long-term investment and "no more press releases about infrastructure projects or housing projects that aren't delivered and aren't properly funded".
No longer the 'lucky chancellor'?
Analysis, by BBC political editor Laura Kuenssburg
If George Osborne was the "lucky chancellor" in November when the Treasury found an extra £27bn down the back of the Commons green benches, what will he be today?
How does he respond practically and politically to the fact that the numbers he based his plans on at the Spending Review have turned out to be wrong?
George Osborne is going to have to fess up - the pages and pages of numbers the independent Office for Budget Responsibility provided as the basis of his sums won't add up any more.
We know too - as he told me a few weeks ago - that means extra government cuts are likely, probably an additional £4bn billion a year by 2020.
Jeremy Corbyn will be responding to the chancellor's speech, but the opposition that really troubles Mr Osborne right now is those on his own benches - and if he's not the "lucky chancellor" any more, what they'll be calling him by the end of today.
Read more from Laura's blog
Under the education package of reforms, every state school in England will have to become an academy - meaning they are independent of local authority control - by 2020 or to have a plan in place by that date to do so by 2022.Under the education package of reforms, every state school in England will have to become an academy - meaning they are independent of local authority control - by 2020 or to have a plan in place by that date to do so by 2022.
The move would end the century-old role of local authorities as providers of education.The move would end the century-old role of local authorities as providers of education.
Schools will also be able to bid to be allowed to change their hours to suit their pupils' needs.Schools will also be able to bid to be allowed to change their hours to suit their pupils' needs.
How do you think the Budget will affect you? Send your comments and questions to haveyoursay@bbc.co.uk.How do you think the Budget will affect you? Send your comments and questions to haveyoursay@bbc.co.uk.
You can also contact us in the following ways:You can also contact us in the following ways:
Or use the form belowOr use the form below