George Osborne

Chancellor George Osborne has done a U-turn on plans to cap tax relief on charitable donations.

Andrew Tyrie, the chairman of the Treasury Select Committee, has asked George Osborne to respond to suggestions from Barclays that retrospective tax action taken against the bank earlier this year was "unwarranted".

The Chancellor will not press ahead with the so-called 'pasty tax' after agreeing the plans were too complex and burdensome to business, according to reports.

George Osborne has accused the European Commission of offering concessions to French and German banks as he refused to sign revised clauses of the Basel III agreement.

Chancellor George Osborne has ruled out easing his debt reduction plan despite yesterday's news the UK has plunged back into recession.

Troy Asset Management managers Sebastian Lyon and Francis Brooke have backed bakery chain Greggs to overcome the impact of a change in VAT rules that sparked a political storm last month.

THE BIG QUESTION

The Budget cut a little from public spending to allow some overall cuts in income tax.

British banks do not have enough capital to ensure they surivive if there is another crisis, the Bank of England has said.

The government has come under fire for plans announced in the Budget to change tax allowances for pensioners, as stakeholders begin digesting the Chancellor's measures.