George Osborne

Chancellor George Osborne is considering dropping the Pre-Budget Report from the coalition Government's roster of economic events.

Cazenove's Peter Harvey is taking a 21.1% overweight position in bank bonds, as the UK Government prepares to crackdown on risk taking in the sector.

George Osborne is taking a "severe risk" in putting the onus on taxpayers to reduce the £155bn deficit, according to Cazenove.

George Osborne's austerity budget will cause 1.3m job losses over the next five years according to Treasury figures.

GOSLING'S GROUSE

The new Chancellor George Osborne said his first budget was both ‘unavoidable' and an ‘emergency' and yet many of his policies had the look of being well thought out and planned.

The UK gilt market rallied in the run-up to the Budget and while Osborne was giving his speech, but this initial growth spurt now seems to have moderated.

Economists are broadly positive on the plans announced in the emergency Budget and are scrambling to revise their own growth forecasts in light of the austerity measures.

Last week both Moody's Investor Services and Fitch Ratings said the emergency Budget is supportive of the UK's AAA rating.

Chancellor George Osborne is set to raise the personal income tax allowance by £1,000 to £6,475 in the Budget today, removing more than 850,000 people from paying income tax.