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UK budget: infrastructure spending given priority

Capital gains tax will be cut from 28% to 20%; tax loopholes of Internet companies to close

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Mr Osborne warned about "a dangerous cocktail of risks" from financial volatility, the slowdown in the economies of China and other nations. He also said Brexit would cause uncertainty and potentially lower growth.

London

UK Chancellor of the Exchequer, George Osborne, announced accelerated infrastructure spending to lift a slack UK economy.

To counter a forecast decline in growth from 2.2 per cent in 2015 to 2 per cent in 2016, Mr Osborne promised higher spending on  better transport and

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