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18.03.2015 International

British chancellor to unveil final budget before election

18.03.2015 LISTEN
By GNA


London, March 18, (dpa/GNA) - British Chancellor George Osborne was expected to unveil tax concessions and other sweeteners on Wednesday in his government's final budget before a general election in May.

Osborne had insisted there would be "no gimmicks, no giveaways" in the budget but analysts said he was likely to include several measures designed to bolster electoral support for his Conservative party.

Osborne was believed to have some 6 billion pounds (9 billion dollars) that could be used to fund new initiatives after recent low inflation reduced the cost of government debt.

He was expected to announce a higher minimum earnings threshold for income tax, tax reductions on income from savings, and measures to spur economic growth in poorer northern regions.

His ability to promise changes that could sway voters was constrained by the need to agree the budget with the Conservatives' coalition partners, the Liberal Democrats, analysts said.

GNA

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