Budget 2012: George Osborne on tax and business
The chancellor pledged a simpler tax system as he opened his 2012 Budget promising to reward work, support working families and "unashamedly back business".
George Osborne claimed his "reforming Budget" would deal with UK debts and taxpayers would understand what they were being asked to pay.
He said millions of the lowest-paid would be lifted out of tax altogether and the wealthier would pay more.