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And after a decade of cheap debt, emerging markets are facing tighter credit conditions.
The Budget drives forward the devolution revolution, giving local areas further control over the decisions that affect their communities.
Headline measures include: These economies face a number of risks.
This Budget continues to lower taxes, with new support for small business and entrepreneurs, while also modernising the tax system and taking steps to ensure that taxes are fair and are paid.
The government will: To tackle the long term economic challenges in the UK, this Budget announces radical reforms that will drive future prosperity, investing in the infrastructure that will deliver economic growth for the next generation.