The Chancellor is to Announce this Years Budget at 12.30pm

We've been speaking to George Cowcher whose Chief Executive of Derbyshire's Chamber of Commerce.

Today is an important day for People in the UK and for our Economy.

The yearly budget will be announced this lunchtime by the Chancellor.

Yes well each year the Chancellor of the Exchequer makes a major speech to the House of Commons on the state of the national finances and the Government's future plans for the economy.

George Osbourne will also present new forecasts for the next year and will outline what's to be done to improve our financial climate.

He will report on the progress the Coalition Government has made since being in power and how they'll be taking further steps to meet targets.

This year there's been rumours about changes for child benefit payments, a possible cut in VAT and there's word they will postpone the increase in petrol duty given the high level of world oil prices.

The announcement will be made at 12.30 today..Listen to Peak Fm News for more details.

We've been speaking to George Cowcher whose Chief Executive of Derbyshire's Chamber of Commerce.

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