News

David Cameron says the biggest risk to the economy "is the Prime Minister," following today's Budget statement.

The mortgage industry has broadly welcomed the decision by Chancellor Alistair Darling to increase the Stamp Duty threshold to £250,000 for first time buyers.

Undeclared offshore assets will be liable for up to 200% penalties where there is no agreement from the country holding the bank account or assets to automatically disclose them to HMRC.

The IMA has welcomed the Chancellor's move to increase ISA limits in line with inflation, saying it will continue to work with the Government to build on the ISA brand.

The Chancellor has pledged to set up a £2bn investment bank which will provide funding for green transport and technology.

"Mr Deputy Speaker, this Budget takes place as the UK economy is emerging from the deepest global recession for over 60 years...

The Government will slash business rates for a year and create a £4bn support fund to help small and medium-sized enterprises (SMEs).

The Chancellor has announced new targets for lending for the state-aided banks, Lloyds and Royal Bank of Scotland (RBS).

Alistair Darling has doubled the entrepreneurial relief for capital gains tax (CGT) in a bid to make it more attractive for what he called "wealth creators and innovators" to set up their own businesses.

The Government is looking into scrapping the compulsory retirement age, Alistair Darling says.