Chancellor George Osborne today (Wednesday) delivers his first Budget statement since May’s General Election - and the first Budget from a majority Conservative government for 20 years.

He is expected to announce tax cuts for working people and to give some idea how the government will cut £12 billion from the welfare bill, including cuts to tax credits.

David Cameron, the Prime Minister, says he wants to lead a “one nation” government, and this means creating jobs and economic growth in every part of the country.

Mr Osborne is likely to talk about plans to devolve power and funding to the regions of England.

The Chancellor is due to stand at 12.30pm. you can follow our live updates here from 12pm.

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