Budget day - all the latest news and reaction here

It's budget day, read all the latest news and reaction to the announcement here.

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Will the new Help to Buy scheme plans really help?

More than three thousand homes in the region have been bought using Help to Buy since it was launched.

Today the Chancellor announced a new Help to Buy ISA which means the government will give you £50 for every £200 you save towards your deposit.

But developers, like Paul Moran from David Wilson Homes, has warned the Government could do more.

The Government did offer some help for house builders today with the announcement of new Housing Zones in South Bristol, Weston-super-Mare, Gloucester and Bath.

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What the Budget means for the West

Credit: Chris Radburn/PA Wire

The key measures laid out for the region include:

  • A new rail franchise for the South West and £7 billion to be spent on improving the region's transport connections
  • A reduction in tolls for the Severn Crossing, including cutting costs for small businesses doing trade on both sides of the river
  • Bristol will receive a share of £100 million being spent on the development of driverless cars - The University of the West of England is already involved in a pilot project.

As well as the specific announcements for the region, the Chancellor also announced plans to help house buyers, drivers, pensioners, and small businesses.

  • A new Help to Buy ISA to assist first-time buyers, which means the Government will give you £50 for every £200 you save towards your deposit.
  • Cancelled the Fuel Duty increase for September
  • A major review of the business rates system - something companies across the West have been calling for
  • Beer duty will drop by a penny and the Chancellor nodded to the West Country Cider producers with a drop of two per cent.

Live tweets from the Budget

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