1. ITV Report

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. 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. 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. Credit: ITV News
  • New Alan Turing Institute founded to ensure Britain leads the way in big data and algorithm research.

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