ITV Political Editor Tom Bradby gives us his take on today's budget and what it'll mean in the coming years.
The Chancellor could have done more to restore consumer confidence and encourage spending in order to support key policy initiatives such as the Green Deal energy efficiency programme and a major increase in the number of new homes, the Federation of Master Builders (FMB) has said today.
The Chancellor’s decision to push ahead with the double inflation increase in Air Passenger Duty (APD) in today’s budget has been branded as a reckless.
The Board of Airline Representatives in the UK (BAR UK) represents over 80 airlines and is unhappy about the move.
RMT General Secretary Bob Crow says: “This is a budget of the rich for the rich. The tax changes mean that a banker on half a million pounds gets a kick back from George Osborne of £17,500, money robbed from our public services and the neediest in our divided society."
Tax-free personal allowance is to rise by £1,100 from April 2013 to £9,205, making 24 million people £220 a year better off.
Click on Tom Bradby, ITV News Political Editor, for a Budget round-up
As well as August fuel price rise, vehicle excise duty will go up in line with inflation. However, it will be frozen for road hauliers.