Responding to the budget, Labour leader Ed Miliband said Britain would be "worse off in 2015 than it was in 2010".
Ending his statement, the Chancellor described the statement as a Budget for "a Britain that wants to be prosperous, solvent and free".
The new Employment Allowance will take the first £2,000 off the employer National Insurance bill of every company in the country.
Around 450,000 small busineses - one third of all employers - will pay no employer National Insurance at all after introduction of Employment Allowance in April next year.
Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, says: "Interestingly beer duty increases have been cancelled so that beer remains affordable. It's interesting to ask how this can be reconciled with the Prime Minister's wish to prevent cheap alcohol encouraging alcoholism."
The rise in personal allowance is being brought forward to 2014, meaning no income tax on the first £10,000 of earnings.
Chancellor George Osborne announces greater control for our region's cities and areas over their own economic destiny.
September's planned fuel duty rise has been scrapped.
Tax-free child care vouchers worth £1,200 per child. Also, increased support for families with children on universal credit.
A new 'Help-to-Buy' scheme will be introduced for those struggling to find mortgage deposits. It 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.
The new mortgage guarantee is sufficient to support £130 billion worth of loans, to help people who cannot afford a big deposit.
Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, says: "He has announced that self-employed people will pay more National Insurance to fund better pension entitlement. Again, predictably, he takes with one hand and gives with the other."