The Chancellor presented what he called a ‘tough but fair’ Budget aiming to eliminate the structural deficit by the end of this Parliament, to be achieved roughly 80% through spending cuts and 20% through tax increases. This equates to £30 billion a year in spending cuts.

The Budget demonstrates the enormous scale of the challenge facing third sector organisations. The spending cuts announced will hit frontline services, and it is clear that the third sector will be asked to do more at a time when parts of its cost base are rising.

Highlights of the emergency Budget include, plans to scrap the proposed 50p a month ‘landline tax’ for super fast broadband with the government promising to support private investment and the Government proposals to consider fuel duty discount to those who live in remote rural areas.

The Chancellor of the Exchequer, the Rt Hon George Osborne MP called the budget “unavoidable” as he announced plans to cut the structural budget deficit to zero in the next six years.

Please click on the link to view the full ACRE Briefing Link