The budget this week is about promoting growth, helping families and making our tax, pensions and benefit system fairer.
We are helping families struggling with the cost of living by cutting income tax by an average £48 for millions, cutting fuel duty immediately, postponing Labour’s planned increase this April and taxing oil companies more to stop future inflation rises in duty.
We are boosting manufacturing, growth and jobs by cutting tax for businesses and entrepreneurs; scrapping burdensome regulations; radically reforming the planning system; investing in science and innovation; and providing more support for young people with an additional 50,000 apprenticeships and 100,000 work experience places. Britain will make things again.
We are sticking to the plan – backed by the IMF, OECD and every major business body in Britain – to put the public finances back on track after Labour maxed out the nation’s credit card. The fiscal plan is unchanged. We cannot go on spending £120 million a day on debt interest – more than we spend on schools and defence.
The Chancellor said: , "We want the words: 'Made in Britain, 'Created in Britain', 'Designed in Britain', 'Invented in Britain', to drive our nation forward. A Britain carried aloft by the march of the makers. That is how we will create jobs and support families. We have put fuel into the tank of the British economy."
This Budget will put petrol back in the tank of Britain’s economy.