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Examining the Chancellor's Budget figures for growth

George Osborne's promise to end austerity a year early will depend very heavily on the economy doing better than expected - as well as on more cuts to spending.

Economics Editor Richard Edgar has been drilling down on the figures - to find out what today's statements will actually mean.


Budget gives fresh hope to first-time buyers

With the average house in Loughborough now selling for just over £200,000, the government's new saving plans could bring fresh hope to first-time buyers.

Help to Buy ISAs are predicted to help first-time buyers get on the housing ladder quicker, speeding up the saving process by a year.

The government will make a 25 per cent top up for first-time buyer deposits with a maximum contribution of £3,000.

ITV News Consumer Editor Chris Choi reports:


SNP: £30 billion of austerity cuts are still to come

Angus Robertson, MP for Moray and Westminster SNP leader, said the budget proved that the Coalitioni government has failed on all of their major targets for the parliamentary session.

He said a further £30 billion of austerity cuts are still planned, and also hit out at Labour for agreeing to the cuts.

IFS: Predictions on income 'hardly worth boasting about'

Paul Johson, the head of the Institute for Fiscal Studies, said the Chancellor's comments on household income being greater next year than this year are most likely to be true - but hardly worth boasting about. He said:

"We shouldn't really be boasting about the fact that in 2015 we might be a bit better off than we were in 2008 - that is the very, very least we expect".

Green Party: Budget does not 'deliver for the common good'

Leader of the Green Party, Natalie Bennett, said that George Osborne's budget did not reflect the reality of the British economy and is not "delivering for the common good".

"We need to see local government having the money it needs to provide essential local services," she said.

She said that climate change was not mentioned in the budget, adding: "This government has an absolutely dreadful record, the phrase 'greenest government ever' is now a very sad, sick joke."

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