CLEAN : Britain awaits fresh austerity budget befo

The video discusses the political and economic context leading up to a general election, focusing on the budget measures expected from Chancellor George Osborne. It highlights the constraints on major tax cuts due to poor public finances and anticipates incentives for investment to support economic recovery. The Office for Budget Responsibility may adjust forecasts for GDP growth and public borrowing, but changes are expected to be minor. Additionally, measures to alleviate household living costs, such as increasing the tax-free personal allowance, are considered likely.

What is the main challenge faced by the Chancellor in the context of the upcoming general election?

• Opposition from other political parties

• Lack of public support

• High inflation rates

• Limited opportunities to announce popular measures

Why is the government keen on promoting investment over consumer spending?

• To ensure a balanced economic recovery

• To reduce inflation

• To increase exports

• To decrease unemployment

What role does the Office for Budget Responsibility play in the budget process?

• Setting tax rates

• Approving budget proposals

• Forecasting GDP growth and public borrowing

• Allocating government spending

What measure has been popular in recent budgets to help households?

• Increasing the tax-free personal allowance

• Reducing VAT

• Introducing new subsidies

• Lowering interest rates

How might the budget address the cost of living for households?

• By reducing utility bills

• By providing food vouchers

• By increasing wages

• By raising the tax-free personal allowance