Who are the winners and losers of the Budget?
Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, takes a look at the winners and losers of this year's Budget.
Some Budget leeway but it is a very gloomy outlook
Osborne surprisingly had a fair amount of leeway in his Budget. But we have to set all this in the context of a very gloomy overall picture.
Cumbria county council propose budget cuts
Cumbria County Council might need to cut £50 million off their revenue budget over the next 2 years, the proposals are under consultation
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New Help-to-Buy scheme
The announcement has said that there will ne a new Help-to-Buy scheme for those struggling to find mortgage deposits, which will include £3.5 billion for shared equity loans, and a Government interest-free loan worth 20% of the value of a new build house.
Changes to social care costs, savings and means tested help
Cap-on social care costs to come in in 2017 and protect savings above £72,000, with the threshold for means tested help raised from £23,000 to £118,000.
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£144 pension to be brought forward
Flat rate pension worth £144 a week to be brought forward to 2016.
More support for families on universal credit
The Chancellor has announced that there will be tax free child care vouchers worth £1,200 per child and increased support for families with children on universal credit.
Corporation tax reduced
Corporation tax reduced by a further 1% to 20% in April 2015.
More support for small businesses
There will be new Support for small firms through Government procurement budgets, growth vouchers and controls on regulators' charges.
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Armed forces: Pay increases and exemptions
Members of the military are to receive full recommended increase in "X-Factor" payment in May and to be exempted from changes to progression pay.
Positive reaction to housing announcement
Joe Wilkinson, who is a builder working in Cumbria and southern Scotland, is very pleased with the announcement of help for people looking to buy homes and build new homes.
He said he hopes it will kick start the construction industry.
Cap on public sector pay
George Osborne has announced that the public sector pay cap of 1% extended by one year in 2015/16.
Chancellor announces rise in savings to be made
The Chancellor is seeking £11.5 billion worth of savings in spending review for 2015/16, up from the previously announced £10 billion.
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