President Barack Obama delivered his 2013 budget speech yesterday and despite not dealing with comprehensive reform of the tax code – proposals for which will come in the next few weeks – he reiterated the sentiments of his State of the Union address and called for ending tax breaks for companies that ship jobs overseas, replacing them with incentives for those companies that conversely bring jobs and investment to the US.
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The Office for Budget Responsibility’s pessimistic pillar two forecast accompanied the UK chancellor’s muted Spring Statement, dubbed ‘as dull as possible’ by one adviser
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