The Wales Office has confirmed that Seven Bridges tolls are expected to fall when the crossings return to public ownership because VAT would no longer be levied. The tax represents just over £1 of the present £6.50 toll for cars and more than £3 of the £19.60 paid by lorries. The Chancellor also announced that the present £13.10 for small vans and buses would be reduced to the same toll as is charged for cars.
Today's announcement is great news for small businesses but also for the many hardworking people in South Wales who cross the Severn Bridge every day for work. We are determined to do everything possible to support the Welsh economy by improving connectivity in all ways, from road to rail through to strong electronic links.
The private company that built the Second Severn Crossing will hand back the tolls when the construction costs have been paid off. That's now expected to happen in 2018.
More than 1.2 million people in Wales will see an average real term gain of more than £500, following George Osborne's announcement to raise the income tax threshold.
During the Budget speech, he said personal tax-free allowance will increase to £10,800 next year and £11,000 the year after.
Wales Office estimates that raising income tax threshold will take 167,000 people out of income tax altogether in Wales.
George Osborne's promise of a cut in the tolls on the Severn Bridges suggests that if he stays in office after the election he'll deny the Welsh Government control of the crossings when they return to public ownership. First Minister Carwyn Jones has said that if he had the power, he would reduce but not abolish the tolls, using the income to pay for M4 improvements as wells as maintaining the two bridges.
Chancellor George Osborne has announced that the UK government is "opening negotiations on the Swansea Bay tidal lagoon."
The Chancellor also said "We are giving more power to Wales. We are working on a Cardiff city deal" - but with no more detail.
Toll rates for the Severn Crossing will be reduced from 2018, George Osborne has announced.
"Severn crossings are a vital link for Wales - we will reduce the toll rates from 2018 and abolish the higher band for small vans and buses."
The Chancellor has gone further to say that Severn Bridges tolls for vans will be cut from £13 to £5.40 to help small traders.
More on the Severn Tolls. According to the Wales Office HGVs and buses will pay £16.30 from 2018, down from current £19.60.
Chancellor George Osborne has announced more funding for air ambulances around the UK during his Budget speech.
He announced support to help charities buy new helicopters including Wales, Essex and Herts, East Anglia and Scotland which will be paid for from LIBOR fines.
Chancellor George Osborne is delivering his sixth annual budget in the House of Commons today.
And with reports suggesting the government has seen a £6 billion windfall, he is expected to announce a number of tax cuts designed to boost the Tories' pre-election campaign.
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A rogue builder has been jailed for 15 months, after charging an elderly woman £140,000 for repairs to her house worth just £6,000.
Ronnie Connors, 39, moved in when he saw weeds growing through paving on the pensioner's driveway in Rhiwbina, Cardiff - but warned there were more problems, and tricked her into paying for work on rendering, an almost rebuilt garage, gutter and weatherboard replacement.
Prosecutor Lee Reynolds told Cardiff Crown Court: "By the time she had paid out between £70,000 and £90,000 she lost track and later told police 'they just kept finding things to do.'"
An expert estimated the work done needed should have cost £6,000.
The court heard that Connors lives in a mansion outside Cardiff, and had bought several new cars.
He had also overcharged two other elderly victims.
Connors admitted three charges of aggressive business practice and had to repay the money.
Recorder George Bull told Connors: "You are a thoroughly dishonest businessman preying on people and you chose your victims carefully. It was despicable conduct and your should be thoroughly ashamed of yourself."
In a statement released ahead of his Budget, Chancellor George Osborne has vowed to deliver a Budget that will help create a "truly national recovery".
Today we set out the next stage in a plan that is working, with a Budget that works for you. We will deliver a truly national recovery