Budget 2013: How did the industry respond?


Chancellor George Osborne delivered his fourth Budget address this afternoon, cutting his official growth forecast in half, but insisting the UK would avoid a "triple dip" recession.

Osborne also confirmed plans to cut corporation tax to 20%, increase the personal tax free allowance to £10,000 in April 2014 and abolish the stamp duty reserve tax for UK-domiciled funds. The Chancellor told MPs this year's Budget is "for people who aspire to work hard and get on". Here, fund managers and economists digest the announcements and give us their verdict. Azad Zangana, European economist at Schroders: The Chancellor's fourth budget was fraught with conflict between trying to provide tax cuts to stimulate growth (and satisfy his party's backbenchers), but also to bri...

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