The new Chancellor of the Exchequer, George Osborne, has delivered his first ever Budget to Parliament, and he announced some very radical measures.
With the country owing hundreds of billions of pounds but borrowing more each year, leading to ever increasing interest payments on the debt, the Tory-Lib coalition felt it needed to cut hard and fast.
VAT is set to rise by 2.5% to 20%, public sector pay will be frozen, welfare payments cut including a radical restructuring of housing benefit. The tax threshold will increase by £1,000, taking over 800,000 people out of the tax bracket altogether.
What did you make of his Budget? Has he been too harsh on the poorest in society and not hit those at the top and the banks hard enough? Share you thoughts below:
