Chancellor George Osborne presented the U.K.'s annual Budget to Parliament. The Budget was closely watched as it's the last before a general election in May.
Osborne revealed that growth forecasts by the independent government forecaster, the Office for Budget Responsibility, has risen to 2.3 percent for next year, up from earlier forecasts of 2.2 percent. The U.K. is also targeting a smaller budget surplus in 2019/20.
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