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What the budget means for the North West

There were more big promises about the Northern Powerhouse in today's budget. It formed a key part of the Chancellor's speech today but what does it really mean?

George Osborne's announcement promised to press ahead with more devolution for cities like Manchester and Liverpool - including plans to give future Mayors powers over the fire service.

He promised 30 million pounds towards a long-term northern transport master plan - including smart ticketing modelled on London's Oyster card.

But while he also promised to introduce a living wage, Mr Osborne also said he was cutting tax credits to low income families, with the North West expected to be hit hard. Ashley Derricott reports:

Parents of Warrington bomb victim welcome charity lifeline

The future of a North West charity set up following the bombing in Warrington has been given a year's funding in the budget.

'Survivors For Peace' run by the Tim Parry and Jonathan Ball Foundation, had faced an uncertain future after a grant had run out.

Colin and Wendy Parry, the parents of Tim Parry who was killed in the IRA bomb have welcomed the Chancellor's announcement.

It comes on the eve of the 21st anniversary of the terrorist attack.

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Lifeline for Warrington charity on eve of bombing anniversary

Tim Parry and Johnathan Ball who were killed by the IRA in the Warrington bombing Credit: ITV Granada

A charity set up after the IRA bombing in Warrington has been given a lifeline in the budget.

'Survivors For Peace' run by the Tim Parry and Jonathan Ball Foundation, had faced an uncertain future.

It was struggling to find 150 thousand pounds a year to keep going. But on the eve of the bombing's 21st anniversary, George Osborne said the government would provide financial help.

The charity works with people affected by terrorism, war and political violence in Britain and Ireland.

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Citizens Advice welcomes Osborne's pensions change

Citizens Advice has welcomed the Chancellor's proposals on pensions in his Budget speech.

Citizens Advice chief executive Gillian Guy said after the announcement: “The proposals to free up pensions are welcome, particularly the new ‘right to advice’, which recognises the significant value of impartial, trusted advice.

Citizens Advice welcomed George Osborne's proposals 'to free up pensions'. Credit: Rui Vieira/PA Wire

“People who are able to put money aside into savings will find an increase in how much they can save tax free helpful.

"But the Chancellor does need to remember that for many people, saving money is a pipe dream as they are struggling to make ends meet."

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Pensions providers see shares hit after Budget

Pension providers have seen their share price fall in the wake of a series of announcements from the Chancellor affecting the industry.

George Osborne with his Treasury team ahead of the Budget.

The latest figures from the London Stock Exchange show drops in share prices across major providers.

Legal & General -10.7%

Aviva -7.66%

Standard Life - 3.28%

Prudential -2.67%

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'Ridiculous' tax rebate extends to those earning 300k

A mother of three and chief executive of MyFamilyClub, a money saving website, told ITV News the government's childcare support was "welcome" but it was "ridiculous" it extended to those earning up to £300,000 a year.

Gemma Johnson. Credit: MyFamilyClub

Gemma Johnson said: "British childcare costs are amongst the highest in the world - so this tax rebate is welcome, as it will help make working parents better off at a time when family budgets are stretched to the absolute limit.

"But it's ridiculous that this tax rebate extends to families earning up to £300,000 a year, and yet doesn't help the millions of families that have a stay-at-home mum or dad by one single penny."

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