This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-politics-33437115
The article has changed 25 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Budget 'to extend welfare cuts timetable' | Budget 'to extend welfare cuts timetable' |
| (35 minutes later) | |
| George Osborne will slow the pace of planned welfare cuts when he presents his Budget, the BBC understands. | George Osborne will slow the pace of planned welfare cuts when he presents his Budget, the BBC understands. |
| The chancellor is expected to take three years instead of two to reach his £12bn target. | The chancellor is expected to take three years instead of two to reach his £12bn target. |
| BBC political editor Nick Robinson said Mr Osborne would unveil proposals on Wednesday for £8bn of cuts by 2017/8 and a further £4bn by 2018/9. | BBC political editor Nick Robinson said Mr Osborne would unveil proposals on Wednesday for £8bn of cuts by 2017/8 and a further £4bn by 2018/9. |
| The first post-election Budget is also likely to cover Sunday trading, inheritance tax and social housing. | The first post-election Budget is also likely to cover Sunday trading, inheritance tax and social housing. |
| Mr Osborne is set to promise "bold" policies that will "secure Britain's future". | |
| The Conservatives have pledged to eliminate the UK's budget deficit by 2018. | |
| A number of measures have already been revealed, including: | |
| Mr Osborne will also announce that the annual amount given to recipients of the highest military and civilian honours for bravery, the Victoria Cross and George Cross, is going to be increased to £10,000 a year. | |
| Recipients have traditionally received an annuity, which was worth £2,129 last year. | |
| The cost of the annual, tax-free award will be met using £3m in banking fines levied by the Financial Conduct Authority, the chancellor said. | |
| The Tories have not yet said where the bulk of the £12bn in welfare savings they have pledged to make will come from. | The Tories have not yet said where the bulk of the £12bn in welfare savings they have pledged to make will come from. |
| Tax credits are expected to be in the firing line, with David Cameron having promised to end the "ridiculous merry-go-round" of taxing low earners then handing them money back in benefits. | |
| BBC Newsnight understands tax credits will be reduced for families with more than two children. | |
| The measure, which would apply to new families coming into the system, would save £1.4bn. | The measure, which would apply to new families coming into the system, would save £1.4bn. |
| Follow the Budget on the BBC | |
| On Sunday, Mr Osborne said he had identified where the savings would be found. | On Sunday, Mr Osborne said he had identified where the savings would be found. |
| Presenting the first all-Conservative Budget since 1996, he will say "the greatest mistake" the UK could make would be to "think all our problems are solved". | |
| "You only have to look at the crisis unfolding in Greece as I speak to realise that if a country's not in control of its borrowing, the borrowing takes control of the country," he will say. | |
| Labour's acting leader Harriet Harman said the economy needed to be strengthened "but not at the expense of people being made worse off". | |
| She added: "The Conservatives should be thinking about the economy as a whole, and every corner of the country, not the Tory backbenchers and their fortunes. | |
| "We don't want to see political tactics; we want a focus on making the economy work for everyone." |