Beer duty escalator 'scrapped altogether'

A planned 3p rise in beer duty tax has been scrapped, and replaced by a 1p cut in duty on a pint of beer.

The Chancellor George Osborne is delivering his Budget. Credit: PA Wire

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Govt: Economy 'could be worse'

The Chancellor George Osborne has told ITV's Daybreak that the country's economic problems "could be a lot worse", referring to the situation in Cyprus, as he defended his Budget plans to kickstart the recovery.