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The Government's plan to guarantee billions of pounds of new mortgages could lead to a new house price bubble, some economists are warning.
And independent analysts claim tax rises or deeper spending cuts could follow the next election as the Government struggles to slash the budget deficit.
Watch Business Editor Laura Kuenssberg's report:
Paul Johnson, director of the Institute for Fiscal Studies, said there is a risk that the Government's Help to Buy scheme, designed to make houses more affordable, could have the opposite effect.
Speaking to Economics Editor Richard Edgar, he said: "There is a risk that a lot of this will do more to push prices up rather than making things more affordable."
He added that the policy is a "distributional" one as it helps those without large deposits get on the housing ladder, but in some cases "that's a bigger risk".
The big surprise in today's speech was the scale of the Government's attempt to boost home-ownership and growth in the housing market.
From next year, it will guarantee the mortgages of prospective home buyers who are struggling to find a loan and offer help on deposits for first time buyers.
Business Editor Laura Kuenssberg reports:
Chartered accountants Blick Rothenberg produced this table to show how tax-free income thresholds will change after today's Budget.
Under 65s can earn their first £10,000 tax-free by the start of the 2014 tax year.
By that point, people earning over £31,865 will enter the 40% higher rate tax band.
The London mayor Boris Johnson said he "warmly welcomed" the Chancellor's announcement that homebuyers would get help to get loans.
Latest ITV News reports
George Osborne faces criticism that his mortgage guarantee plan might actually make houses less affordable.
The Treasury has still not explicitly said it will prevent homeowners from using taxpayer-backed Mortgage Guarantees to buy second homes.