Chancellor George Osborne says "The sun is shining" and Britain is "Walking tall again" after five years of coalition Government.
But the Labour Leader Ed Miliband said Mr Osborne had "failed working families".
So just how is it going to affect us:
The amount that workers can earn before paying tax is to rise from £10,600 to £11,000 by 2016
Pensioners will be able to turn their retirement funds into a cash lump sum.
Petrol duty will be frozen and September's planned increase is to be scrapped - a "saving of £10 to fill your car" according to the Chancellor.
Beer duty is to be cut by a penny, cider and whisky by two per cent and wine duty will be frozen.
There will be a new personal savings allowance - the first £1,000 of interest on savings will be tax-free.
The Chancellor made much of his vision for creating a so-called "Northern Powerhouse" - his plan to make wholesale improvements to the economy, road and rail links in the North. In fact it got four mentions in his budget speech.
But with the General Election just 50 days away and the polls predicting a hung parliament are today's pledges anything more than hot air? David Hirst reports.
The former Mayor of North Lincolnshire has been found guilty of nine charges at his fraud trial at Sheffield Crown Court.
Jawaid Ishaq was found guilty of three counts of fraud, three thefts, making or supplying articles for use in fraud, possessing an article for use in fraud and perverting the course of justice.
The 72-year-old will be sentenced on Friday. He was granted conditional bail.
Liberal Democrat MP for Leeds North West, Greg Mulholland says that George Osborne's 2015 Budget is a step in the right direction towards devolution for Yorkshire, and will offer a platform for the next Parliament to build on.
Meanwhile, Brigg and Goole MP, Andrew Percy says the budget is evidence of the region's progress under the coalition Government:
The Leeds West MP, Rachel Reeves says that Chancellor George Osborne's Budget has failed to provide adequate devolved power to the region:
Chancellor George Osborne has delivered his Budget for 2015.
In his speech, the Chancellor claimed that Yorkshire had created more jobs in the last year than the whole of France.
He also announced pressure from Keighley and Ilkley MP, Kris Hopkins, swayed him to cutting 1p duty per pint of beer, along with the agreement of new city deal for West Yorkshire Combined Authority.
However, Labour Leader, Ed Miliband, quoted Leeds City Council in saying that the Government is "no friend of the north".
The Opposition Leader then argued, "Let's really test him out on whether he is a friend of the North - 75% bigger cuts to local government budgets in the North than the rest of the country."
Miliband: "I'd like to quote a Conservative leader of a northern city, but there aren't any! And under this govt there never will be!"
Budget proves general election will be fought in the north. Tories promise northern powerhouse, Lab says it's a farce. Repeat ad infinitum.
Miliband says north has faced 70% bigger cuts than rest of country. For every £1 spent on transport in NE, £25 spent in London.
Reacting to the final Budget before the general election, Labour leader Ed Miliband said it was a "a Budget people won't believe, from a government they don't trust".
The Labour leader said there had never been such a large gap between the Chancellor's rhetoric and the reality of people's lives.
He also condemned George Osborne for failing to mention investment in the NHS or public services.
Setting out what he called the "inconvenient truth" of the Chancellor's record, Mr Miliband claimed he had failed Britain's working families by presiding over falling wages, not building enough homes and creating too many low-paid, insecure jobs.