The main Budget announcements by the Chancellor, George Osborne:
:: New Employment Allowance will take the first £2,000 off the employer National Insurance bill of every company in the country from next April. Says 450,000 small businesses - one third of all employers - will pay no employer National Insurance at all as a result.
:: Personal tax allowance will be raised to £10,000 from 2014. It means no income tax on an individual's first £10,000 of earnings.
:: Abolishes beer duty escalator. Cuts beer duty by 1p. "We're taking a penny off the pint" effective from Sunday night. Planned rises for all other alcohol duties maintained.
:: Cancels 3p-per-litre fuel duty rise scheduled for September.
Osborne: Employment Allowance was the Budget's biggest tax measure :: Housing programme: "Help To Buy" scheme. New Help-to-Buy scheme for those struggling to find mortgage deposits will include £3.5bn for shared equity loans, and a Government interest-free loan worth 20% of the value of a new build house. Move to support all families and construction sector. New mortgage guarantee, sufficient to support £130bn worth of loans.
:: Flat rate pension worth £144 a week to be brought forward to 2016.
:: Wide programme to tackle tax avoidance and evasion to bring in £3bn in unpaid taxes. Will name and shame promoters of tax avoidance schemes.
:: Help for employees includes more generous shareholder status, Capital Gains Tax relief for sales of business to workers, tax help to return to work after sickness and a doubling to £10,000 for tax-free loans for commuters' season tickets.
:: Corporation Tax rate cut to 20% from April 2015. Abolishing different rates. Levy on bank balance sheets raised to 0.142% from next year.
:: Stamp Duty on shares in Alternative Investment Market (AIM) scrapped.
:: The Government intends to take forward two major carbon capture and storage projects and offer new tax incentives for manufacture of ultra low emission vehicles and production of shale gas.
:: Annual extra spending on infrastructure of £3bn from 2015/16.
:: Public sector pay rises to be limited to 1% for a further year to 2015/16. "We should put jobs first." Military to receive full recommended increase in "X-Factor" payment in May and to be exempted from changes to progression pay.
:: Whitehall department budgets to be cut by 1% after £11bn under-spend this year, with protection for schools and health.
:: There will be an updated remit for the Bank of England's monetary policy committee. The 2% CPI inflation target will remain. MPC will be additionally tasked with saying when inflation will return to target. Both Sir Mervyn King and in-coming governor Mark Carney agree.
:: The deficit continues to come down. Deficit has fallen from 11.2% of GDP in 2009/10 to a forecast 7.4% this year and is expected to fall to 6.8% next year, 5.9% in 2014/15, then 5%, 3.4% and 2.2% by 2017/18. (The predictions imply £60bn more borrowing than previously thought).
:: OBR has revised down forecast for growth but suggests Britain will miss triple-dip recession. Growth now estimated at 0.6% in 2013 (halved) and 1.8% in 2014. OBR estimate for employment revised up, with 600,000 more jobs expected in 2013 than this time last year.
:: This is a Budget for those who aspire to work hard and get on. Will support people who want to own their own home and save for retirement.
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