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Osborne: Budget for 'makers, doers and savers'

The Chancellor George Osborne has unveiled measures to benefit pensioners and savers in his penultimate Budget before the election. But he has warned Britain is still set to face years of austerity, despite improved economic forecasts.

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Escalation of Ukraine crisis could impact UK economy

The Office for Budget Responsibility (OBR) has warned of the potential harm the Ukraine crisis could do to the UK economy if the situation continues to escalate.

The OBR said: "Developments in Ukraine are not expected to have a large impact on the UK in our central forecast.

"However, if the situation escalates or continues for a prolonged period, there is a risk of higher commodity prices affecting inflation and output growth.

"There could also be a broader risk through trade linkages and financial exposure to Ukraine, Russia and other affected countries."

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