At a glance: The 8 top points from the Budget

The main points from Chancellor George Osborne's Budget and how it will change the money in your pocket.
The main points from Chancellor George Osborne's Budget and how it will change the money in your pocket. Photo: Lynne Cameron/PA Wire

George Osborne promised a Budget for "makers, doers and savers" to contribute to a "resilient economy."

Here is a look at some of the main points.

A £20 million fund was announced to develop new free right to advice for those retiring on defined contribution pensions.

  • Alcohol duty escalator scrapped.

Duty on spirits and ordinary cider frozen. Beer duty cut by 1p a pint and Duty on fixed-odds betting terminals increased to 25% bingo duty halved to 10%.

  • Personal tax allowance to be raised to £10,500 next year; £800 average savings.
Personal tax allowance to be raised to £10,500 next year.
Personal tax allowance to be raised to £10,500 next year. Credit: ITV News
  • Fuel duty rise planned for September will not take place.
  • Welfare cap set at £119 billion for 2015/16, rising to £127 billion by 2018/19, only state pension and cyclical unemployment benefits will be excluded.
  • Cash and stocks ISAs to be merged into single New ISA with annual tax-free savings limit of £15,000 from 1st July. The limit for a Junior ISA raised to £4,000.
The Chancellor announced changes to savings.
The Chancellor announced changes to savings. Credit: ITV News
  • New Alan Turing Institute founded to ensure Britain leads the way in big data and algorithm research.

Read more: No big dramatic shift from Osborne's Budget