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UK Budget 2013, 20/03/13 [W/E/NI/S]

Chancellor of the Exchequer George Osborne has delivered the 2013 budget to the UK Parliament.

Some important measures are included in the budget for working families. A 20% tax relief scheme for childcare up to £6000 per child will be introduced from 2015, to support families where both parents work, while the limit at which people start paying income tax will increase to £10,000 a year from 2014.

Child benefit cuts will be phased in for families with at least one parent earning £50,000, and axed for those on £60,000. The Government is also cutting the tax rate for earnings over £150,000 and reducing corporation tax.

The Budget also includes a number of measures aimed at reducing public spending and creating jobs. The growth forecast for the year has been halfed to 0.6%, while public debt as a share of GDP is set to increase from 75.9% this year to 85.6% by 2016-17.

Full details of the 2013 Budget can be found on the HM Treasury website.