Osborne to deliver budget on 21 March

Chancellor George Osborne said he would deliver his 2012 annual budget on March 21.

"The budget will be on the March21 ," Osborne told MPs.

The economy is teetering on the edge of contraction, damaged by the euro zone crisis, rising unemployment and strained credit conditions, leaving Osborne's plan to tackle a record budget deficit in jeopardy.