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2011 United Kingdom budget
The 2011 United Kingdom budget, officially called 2011 Budget - A strong and stable economy, growth and fairness, was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on 23 March 2011.〔(George Osborne springs fuel price surprise ), ''The Independent'', 23 March 2011〕
It was the second budget of the Conservative-Liberal Democrat coalition government formed in 2010, and the second to be delivered by Osborne.
Osborne quoted data and projections from the Office for Budget Responsibility relating to economic growth, inflation and borrowing. Key measures taken or introduced included increasing the personal tax allowance, cuts in corporation tax, a cut in fuel duty, and a new equity loan scheme designed to help first-time buyers in the property market.
==Economy==
Osborne announced that the Office for Budget Responsibility had cut its growth forecast for 2011 from 2.1% to 1.7%, and for 2012 from 2.6% to 2.5%.〔(Key points ), BBC News, 23 March 2011〕
In the June 2010 Budget and autumn spending review, he had already committed the Government to spending cuts to tackle the UK's deficit. He therefore made no further sweeping changes, but announced a Budget "about reforming the nation's economy, so that we have enduring growth and jobs in the future."〔(Osborne's Budget 'to fuel growth' ), BBC News, 23 March 2011〕
Forecasts for borrowing had fallen to £146 billion in 2011, £122 billion in 2012 and £29 billion by 2015–16. The national debt was estimated at 60% of current national income, rising to 71% in 2012 before starting to fall back to 69% by 2015.〔
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