Tax-free child care being announced...more shortly.
Corporation Tax is being cut to 20% from April 2015. Whitehall department budgets to be cut by 1% after £11bn underspend.
- More generous shareholder status
- CGT relief for sales of business to workers
- Tax help to return to help after sickness
- A doubling to £10,000 for tax free loans for commuters' season tickets
Public pay sector increases limited to 1% in 2015/16
"We will make difficult decisions so that Britain can live within its means".
Osborne: "Budget is for people who aspire to own their own home, start their first job or own their own business".
Osborne: "This is a budget for people who aspire to work hard and get on."
Speaking during Prime Minister Questions, ahead of the Budget statement, David Cameron said:
In two weeks' time there will be a tax cut for 24 million people in this country as we raise the amount of money you can earn before you pay tax.
We will have taken over 2 million people out of tax altogether. We've frozen the council tax and cancelled fuel duty increase after fuel duty increase and we are legislating to put customers on the lowest electricity tariff.
The Chancellor of the Exchequer, George Osborne is likely to continue to pursue his he's likely to pursue his policy of austerity in the budget to try to cut the deficit and balance the books.
ITV Meridian spoke to people in the South ahead of the budget, about the impact more stringent measures could have on hard-pressed families and businesses across the region.
Many people are already feeling the pinch. Malcolm Shaw has been finding out what help families and business in the area need from Wednesday's budget.
People across the region are awaiting to hear what the Chancellor of the Exchequer George Osborne has in store for their finances in the annual budget. The Chancellor will announce the budget in a speech at 12.30pm in the House of Commons after Prime Minister's Questions.