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All eyes on the budget this week

There are many areas of the UK budget announcement, expected on 22 April, which will attract the attention of investors and observers around the world. First we have the issue of the ongoing budget deficit, which is expected to increase to a record £175 billion, the largest post-war deficit. Then we have the issue of personal taxation, with an acceptance across the board that UK taxpayers will be "taxed up to the hilt" over the next few years in order to balance the budget and repay government debt.

However, perhaps the most attention will be focused on the numbers which Gordon Brown and Alistair Darling will have agreed upon, regarding forecast for the UK economy. Amid claims that the government has been "over optimistic" since the recession began, this could be a major turning point for the UK government. The Chancellor is likely to be in a position to announce a forecast end to the UK recession towards the final quarter of 2009, which could give him the perfect opportunity to do a "kitchen sink job" and get all of the bad news regarding budgets, deficits and debt out of the way.

While overall the budget will be fairly "neutral" there could be some interesting forecasts and figures to digest in the later part of the week.

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