Few early surprises in Chancellor’s 2011 Budget

George Osborne

He said at the start: "Last year's emergency Budget was about rescuing the nation's finances, and paying for the mistakes of the past.

"Today's Budget is about reforming the nation's economy, so that we have enduring growth and jobs in the future."

After announcing a reduction in the forecast for growth in the UK economy from 2.1% to 1.7% in 2011 and that borrowing would be £2.5bn lower than expected he declared that corporation tax would be reduced by 2% in April, rather than by 1% as

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