Recent News for UK Budget News

Post Budget Report

Alistair Darling has said the UK will have to borrow a record £175bn as he admitted the economy faces its worst year since the Second World War. The chancellor tore up a key New Labour election pledge by unveiling a new 50p tax rate for earnings over £150,000. He also cut future spending plans in [...]

Latest Financial Market Report

GBP Foreign Exchange Rate Forecast Today 23rd April 2009 Budget The Budget out yesterday was one of the worst on record for the Labour party. Alistair Darling claimed he is trying to save the public finances by announcing larger than expected borrowing of £175bn. He also announced that the UK economy is expected to shrink b y [...]

How does the 2009 budget effect exchange rates

Sterling tumbles as UK govt projects big public debt, tax rise Chancellor Alistair Darling says competitive fx rate is helping exporters The Pound hits a 3-week low of $1.4440 = GBP1.00 Sterling tumbled to a three-week low against the dollar on Wednesday after the UK government projected a massive increase in public debt and said [...]

Budget 2009 – Economy Contracts

The chancellor says that, for the first time since WWII, the world economy is expected to contract this year. £20b increased in bank lending for mortgages this year. Borrowing expected to be £275bn, some 12.5% of GBP