A new "lifetime ISA" will be introduced for people under 40, the Chancellor announced.
From April 2017, people can use them to save up to £4,000 each year until they are 50.
Mr Osborne said that for every £4 people save, the Goverment will give them £1.
The ISA limit will also rise from £15,000 to £20,000.
Lifetime ISA product for under 40s unveiled. Pay £4,000 in, get £1,000 back from the Government. #Budget2016
Duty on beer, cider and petrol will be frozen, there'll be a 'sugar tax' on sugary drinks and more money for improving Northern schools.
Ahead of the 2016 Budget, ITV News spoke to people who may be directly affected by changes made in the Chancellor's eighth statement.
In among the hours of debate ahead over the Budget, some words will crop up more often than others. Here's our guide to the key terms.