What is the Living Wage, how does it differ from what was already in place and who is it going to affect?Read the full story ›
The Living Wage Foundation has questioned the Chancellor's Budget announcement of the introduction of a "living wage".
Is this really a Living Wage?
Without a change of remit for the Low Pay Commission this is effectively a higher National Minimum Wage and not a Living Wage.
Secondly, what about London?. These changes will not help the 586,000 people for whom even the 2020 rate announced today would not be enough to live on now.
Thirdly, what about the two million under-25s who are not covered by this announcement?
And, lastly, do the tax credit changes announced today mean that the Living Wage needs to be higher to make sure people have enough?
Workers, low-earning parents, home-owners and students - what does today's Budget mean for them?Read the full story ›
George Osborne used the first all-Conservative Budget for nearly 20 years to announce a new National Living Wage.Read the full story ›
The Lib Dems claim the Tory Budget is more "you're on your own" than "we're in it together".
A party spokesman said: "When today’s budget fireworks fizzle out, thousands of public sector workers, families and young people face another four years struggling to get by.
"If life is comfortable, if you have cash in the bank, if you have savings, or if you’re big business - today was a good day.
"But if you’re starting out in life, struggling to support your family, struggling to get ahead, unable to work, today things got a lot tougher."
Labour say the new Tory Budget will hit the poorest people hardest by cutting tax credits and scrapping student grants for those who need them most.
Acting Labour leader Harriet Harman said: "What we've heard today suggests the Chancellor's rhetoric is liberated from reality.
"A budget for working people - how can he make that claim when he's making working people worse off."
Barnardos has said it is a "bad day for Britain's poorest children'" after the Chancellor unveiled his new budget.
Chief Executive of the children's charity Javed Khan said: "With larger families already 40 per cent more likely to be poor than smaller families, and their lifeline tax credits and Universal Credit singled out for cuts, it’s been a bad day for the UK’s most vulnerable children.
"Tax credits are an everyday necessity for hard up families, enabling them to buy food, pay for school uniform and even keep a roof over their heads.
"Removing this vital income from larger families simply risks trapping more children in poverty.
"The Government needs to protect vital tax credits or else risk consigning more children to poverty."
The chairman of the Federation of Small Businesses claims some companies may struggle to pay staff the new £7.20 minimum wage.
John Allen said: "There was further support to reduce corporation tax, fix the annual investment allowance and boost regional growth, where investment in roads will be particularly well received.
"However, even though offset by a welcome increase in the employment allowance, some will find the new national living wage challenging.
"Changes to the treatment of dividends will also affect many of our members."