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.

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Survey shows positive reaction to Budget but future fears

Polling carried out by consumer champions Which? immediately after the Budget found that:

  • 89% of voters backed the rise in the personal tax allowance to #10,000
  • 87% supported moves to scrap the fuel duty rise
  • 66% of adults approved of the Shared Equity Scheme
  • 57% were in favour of moves to underpin new mortgage lending

However the survey found a third of the public now feels less confident about the prospects for the economy over the coming year while 28% are less confident about their personal finances.

The poll also showed 59% believe the Government should rethink its economic plan and 44% expect their personal finances to worsen in the next 12 months.

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