Chancellor George Osborne to announce budget

A budget for recovery. That is the message today from UK Chancellor George Osborne as he announces the UK government's economic plans for the coming year.

His statement comes just a day after inflation figures reached their highest levels for two years, and after announcing heavy spending cuts shortly after taking office last May, Mr Osborne could be ready to offer stretched Britons a tax cut.

Political Correspondent Gary O'Donoghue reports.