Wednesday preview: Osborne delivers UK Budget

Chancellor George Osborne has come under pressure to inject life into the UK economy as he prepares to unveil the 2013 Budget on Wednesday.

Chancellor George Osborne has come under pressure to inject life into the UK economy as he prepares to unveil the 2013 Budget on Wednesday.

Osborne has ordered most government departments to make a further 1.0% cut to budgets over the next two years to allow for savings of £2.5bn to fund extra capital spending.

He said departments can afford to slash budgets because they under-spent this year by more than the average.

Total annual under-spends across departments have averaged around £6.0bn since 2007. The government expects the amount underspent for 2012/13 will be somewhat higher.

The Ministry of Defence will be able to use unspent money in the last Budget to make up for upcoming spending cuts.

Ring-fenced departments, including the NHS, international aid and schools, will be unaffected.

However, departments including environment, energy, transport and justice will have to find a way to make savings.

The cuts come on top of the 3.0% spending reductions announced for the next two years in last year's Autumn Statement.

Wednesday March 20th

INTERIMS

Smiths Group

INTERIM EX-DIVIDEND DATE

Abcam, AdEPT Telecom, Berkeley Group Holdings (The), Brooks Macdonald Group, Close Brothers Group, Downing Absolute Income VCT 1, Downing Absolute Income VCT 1 'C' Shares , Dunelm Group, Foresight Solar VCT, Galliford Try, Go-Ahead Group, Haynes Publishing Group, IndigoVision Group, London Finance & Investment Group, NWF Group, Quayle Munro Holdings, Renewable Energy Generation Ltd., Waterman Group

QUARTERLY PAYMENT DATE

M Winkworth

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Balance of Payments (EU) (09:00)

Consumer Confidence Indicator (EU) (10:00)

Current Account (EU) (09:00)

FOMC Interest Rate (US) (16:15)

Producer Price Index (GER) (07:00)

GMS

Resolution Ltd.

FINALS

AFI Development, Charles Taylor, Dolphin Capital Investors Ltd, EG Solutions, Eurasian Natural Resources Corp., Greggs, IQE, Restore, UK Commercial Property Trust

ANNUAL REPORT

GlaxoSmithKline

SPECIAL EX-DIVIDEND PAYMENT DATE

Ferrexpo

AGMS

Safestore Holdings, Throgmorton Trust, Vietnam Property Fund Ltd.

TRADING ANNOUNCEMENTS

Dolphin Capital Investors Ltd

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (09:30)

Unemployment Rate (09:30)

FINAL EX-DIVIDEND DATE

Access Intelligence, Anglo American, Athelney Trust, Aviva, Dairy Farm International Holdings Ltd. (Singapore), Foresight 2 VCT, Foresight 2 VCT 'C' Shares, Heavitree Brewery, Heavitree Brewery 'A' Shares, Hongkong Land Holding Ltd. (Sing.Reg), InterContinental Hotels Group, International Personal Finance, Jardine Matheson Holdings Ltd (Singapore Reg), Ladbrokes, Lancashire Holdings, Law Debenture Corp., Low & Bonar, Maintel Holdings, Mandarin Oriental International (Singapore), Millennium & Copthorne Hotels, Moneysupermarket.com Group, SEGRO, Stadium Group

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021