... will benefit because of new baby bonds, which have been introduced which will guarantee money in the bank at the age of 18. The 2003 budget was announced on 17th April 2003 by Mr Gordon Brown, Chancellor of the Exchequer. The origins of the Budget go back to the Norman period. In those days two departments dealt with finance. Firstly, the Treasury received and paid out money on behalf of the monarch. Secondly, the Exchequer, which received public money, dealt with regulating the King's accounts. The other key measures in the 2003 Budget were as follows - - The starting rate of corporation tax was cut from 10 per cent to zero. This meant that smaller companies had a higher chance of survival. - Simplify tax and improving access to finance enabling smaller companies to develop and grow. - Substantial increase in working family's tax credit which increased by £2.50 a week. ...

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