Budget 2016: George Osborne predicts a million new jobs and promises tax avoidance crackdown

The Chancellor of the Exchequer unveiled the Budget of 2016 yesterday. He predicted that the British economy will create one million jobs over the next parliament, and pledged to close tax loopholes for multinational corporations and public services companies (PSC).

George Osborne stated: “Since the Autumn Statement just four months ago, the businesses in our economy have created over 150,000 more jobs than the OBR expected.

“That’s 150,000 extra families with the security of work. That’s 150,000 reasons to support our long term economic plan. This morning unemployment fell again, employment reached the highest level ever, and the data confirms that we have the lowest proportion of people claiming out-of-work benefits since November 1974. Now the OBR are forecasting a million more jobs over this parliament.”

Additionally, Osborne stated that £14million will be spent on a national mentoring scheme to turn around the lives of 25,000 struggling teenagers.