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| Budget 2013: George Osborne concedes lack of progress in cutting deficit | Budget 2013: George Osborne concedes lack of progress in cutting deficit |
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| George Osborne has conceded that he is not making "as much progress" as anyone would like in bringing down the national deficit. | George Osborne has conceded that he is not making "as much progress" as anyone would like in bringing down the national deficit. |
| The chancellor, who halved the UK's growth forecasts for the year ahead to 0.6% in the budget, told the BBC Today programme on Thursday that "we've not made as much progress as anyone, myself included, would have liked". | The chancellor, who halved the UK's growth forecasts for the year ahead to 0.6% in the budget, told the BBC Today programme on Thursday that "we've not made as much progress as anyone, myself included, would have liked". |
| He said he was "absolutely determined" to make sure the interventions announced in the budget got the economy growing and reduced the deficit. | He said he was "absolutely determined" to make sure the interventions announced in the budget got the economy growing and reduced the deficit. |
| Osborne refused to agree with the Office for Budget Responsibility (OBR) that his plan to get borrowing down had "stalled". "We can see where we need to get to but the weather has got worse," he said. | Osborne refused to agree with the Office for Budget Responsibility (OBR) that his plan to get borrowing down had "stalled". "We can see where we need to get to but the weather has got worse," he said. |
| Osborne defended his handling of the economy, saying the nation's financial problems "could be a lot worse" if not for some of the "tough decisions" he had taken as chancellor. | Osborne defended his handling of the economy, saying the nation's financial problems "could be a lot worse" if not for some of the "tough decisions" he had taken as chancellor. |
| On ITV1's Daybreak he said he "wanted to be straight with the nation about the problems we face". | On ITV1's Daybreak he said he "wanted to be straight with the nation about the problems we face". |
| "We have made a lot of mistakes as a country, over many years, building up these debts," he said. "But my determination is not to run away but to confront them head on. | "We have made a lot of mistakes as a country, over many years, building up these debts," he said. "But my determination is not to run away but to confront them head on. |
| "I've laid down a challenge to myself and this country. We've got to confront those problems, not just shy away from them. But we're on the right track. It is a hard road, but we're getting there." | "I've laid down a challenge to myself and this country. We've got to confront those problems, not just shy away from them. But we're on the right track. It is a hard road, but we're getting there." |
| Osborne said he wanted to help "hard-working families", adding that they would be in a better situation as a result of the budget, with help to buy their own homes and to keep more of the money they earn. | Osborne said he wanted to help "hard-working families", adding that they would be in a better situation as a result of the budget, with help to buy their own homes and to keep more of the money they earn. |
| "We're doing everything we can in very difficult times – which I don't excuse, people know these are difficult times – to help all those families who aspire to work hard and get on." | "We're doing everything we can in very difficult times – which I don't excuse, people know these are difficult times – to help all those families who aspire to work hard and get on." |
| The chancellor said that "of course" the government would "be judged on whether we made the right call". | The chancellor said that "of course" the government would "be judged on whether we made the right call". |
| "But my judgment was that when you're in a debt crisis, when your borrowing is high, if you deliberately seek to add to your borrowing, you're going to make the situation worse." | "But my judgment was that when you're in a debt crisis, when your borrowing is high, if you deliberately seek to add to your borrowing, you're going to make the situation worse." |
| The chancellor also that he was surprised to see a mocked-up image of himself as Lady Thatcher on the front page of Thursday's Daily Mail, with the headline: The laddie's not for turning. "I did choke on my toast and Marmite this morning," he added. | The chancellor also that he was surprised to see a mocked-up image of himself as Lady Thatcher on the front page of Thursday's Daily Mail, with the headline: The laddie's not for turning. "I did choke on my toast and Marmite this morning," he added. |
| Ed Balls, the shadow chancellor, said only the rich were better off following Osborne's budget. "He told us two years ago he would get the economy growing, get rising living standards and get the deficit down," he said. "Borrowing is up, the national debt is rising, the economy is absolutely flat and everybody in our country is worse off year by year, apart from the rich. It's not working." | Ed Balls, the shadow chancellor, said only the rich were better off following Osborne's budget. "He told us two years ago he would get the economy growing, get rising living standards and get the deficit down," he said. "Borrowing is up, the national debt is rising, the economy is absolutely flat and everybody in our country is worse off year by year, apart from the rich. It's not working." |
| In a populist budget on Wednesday that aimed to please swing voters in marginal seats, the chancellor delivered government help for homebuyers, motorists and beer drinkers. | In a populist budget on Wednesday that aimed to please swing voters in marginal seats, the chancellor delivered government help for homebuyers, motorists and beer drinkers. |
| Despite announcing a halving of growth to just 0.6% this year, Osborne said money from pension changes, an extended public sector pay squeeze, underspending Whitehall departments and a fresh crackdown on tax avoidance gave him scope to deliver for an "aspiration nation". | Despite announcing a halving of growth to just 0.6% this year, Osborne said money from pension changes, an extended public sector pay squeeze, underspending Whitehall departments and a fresh crackdown on tax avoidance gave him scope to deliver for an "aspiration nation". |
| After his "omnishambles" budget a year ago, in which most of the key details were leaked and the chancellor was forced into embarrassing U-turns on Cornish pasty and caravan taxes, Osborne received an early blow when the London Evening Standard tweeted a copy of its front page containing many of the budget's key elements before he gave his statement. | After his "omnishambles" budget a year ago, in which most of the key details were leaked and the chancellor was forced into embarrassing U-turns on Cornish pasty and caravan taxes, Osborne received an early blow when the London Evening Standard tweeted a copy of its front page containing many of the budget's key elements before he gave his statement. |
| But he focused on mainstream crowd-pleasers such as 1p off a pint of beer, further freezes in fuel duty (representing £21.5bn in lost revenue over the parliament), and lifting the personal tax allowance to £10,000 a year, in addition to help with childcare announced earlier this week. | But he focused on mainstream crowd-pleasers such as 1p off a pint of beer, further freezes in fuel duty (representing £21.5bn in lost revenue over the parliament), and lifting the personal tax allowance to £10,000 a year, in addition to help with childcare announced earlier this week. |
| He also announced two schemes to boost the housing market, now seen as vital if the economy is to be growing strongly in the runup to the 2015 general election. The Treasury will provide £3.5bn over three years for shared equity loans to increase the sales of new homes, and will give mortgage guarantees to lenders to encourage them to lower the cost of home loans to all buyers. | He also announced two schemes to boost the housing market, now seen as vital if the economy is to be growing strongly in the runup to the 2015 general election. The Treasury will provide £3.5bn over three years for shared equity loans to increase the sales of new homes, and will give mortgage guarantees to lenders to encourage them to lower the cost of home loans to all buyers. |
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