The Chancellor of the Exchequer, George Osborne, delivered the first Budget for a majority Conservative government in almost 20 years on Wednesday 8 July, this was his seventh Budget speech overall. The focus of this Summer Budget was to move Britain from a position of high taxes, low wages and a high reliance on welfare to higher wages, lower taxes and a much reduced reliance on welfare.
The economy is in a much stronger position than where it was five years ago when the coalition government succeeded the previous Labour government. It grew by 3% in 2014 and is forecast to continue its growth. The deficit will continue to be cut at the same rate as before and one million extra jobs are forecast to be created by 2020.
To see how the Summer Budget will affect you click on the titles below to find out more: