The one unavoidable conclusion of this Budget is that it is the already stretched lower middle classes which will be hardest hit by its measures.

Those earning between £21,000 and £50,000 will suffer heavily.
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George Osborne has used his first Budget to increase VAT and cut spending as he set out plans to balance the country’s books by the end of parliament.

Fulfilling the new government’s promise to hold an emergency Budget within 50 days of attaining power, the new Chancellor laid out a raft of spending cuts and tax rises.
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Northern Rock PLC is set to loose the Government’s unlimited guarantee on its retail deposits on May 24, 2010.

The move means the crisis-torn bank is back in line with its rivals but savers will still benefit from the £50,000 guarantee to all savers under the Financial Services Compensation Scheme (FSCS).
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Energy suppliers are making more than £100 out of every customer by refusing to cut bills during the record freeze.

Wholesale prices of gas and electricity have fallen dramatically, but hardly any of the benefit has been passed on to customers.
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George Soros, the well-know hedge fund tycoon, warned that the euro could ‘fall apart’ even if the European Union can agree a ‘makeshift’ deal to shore up support for stricken Greece.

Ballooning budget deficits in a raft of other eurozone economies threaten the future of the single currency, according to the speculator who broke the Bank of England in 1992.
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