Rise in personal allowance brought forward to 2014

The rise in personal allowance is being brought forward to 2014, meaning no income tax on the first £10,000 of earnings.

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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.