Chancellor

The UK is back in recession after a surprise 0.2% contraction in the economy in the first quarter of the year, official figures revealed today.

Many people earning over £10 million a year pay less than 10% in tax, the Treasury has revealed.

Almost nine out of 10 charity bosses fear big donations from wealthy backers will be hit by Chancellor George Osborne's cap on tax relief for charitable donations, according to a survey.

Families with children stand to lose £511 a year on average under tax and benefit changes coming into force from tomorrow, an analysis by a think-tank shows.

Higher rates of the air passenger duty (APD) airport departure tax take effect this week, meaning passengers will pay around 8% more for travel.

The price of petrol has broken through the 140p a litre barrier for the first time.

Drivers had their hopes of avoiding another petrol pump increase later this year dashed by Chancellor George Osborne today.

Chancellor George Osborne has partly reversed a planned cut in child benefit, meaning more families will be entitled to help than was originally proposed, though anomalies still exist.

Pensioners received a £3.3 billion blow in today's Budget as they found out they will eventually lose the higher personal allowance they enjoy in comparison to the rest of the population. This has been dubbed the new 'Granny Tax'.

The Government has confirmed plans to merge the basic and second state pensions.