George Osborne has said that Britain's deficit has been halved and the country would achieve a budget surplus of £23 million by 2019/20.
But Osborne acknowledged that borrowing was estimated be £91.3 billion this year - rather than the £86.4 billion the Office for Budget Responsibility previously expected.
Mr Osborne unveiled the following borrowing predictions:
- 2014: £91.3 billion
- 2015: £75.9 billion
- 2016: £40.9 billion
- 2017: £14.5 billion
- 2018/19: Surplus of £4 billion
The Chancellor must tell voters whether what he's proposing is really a re-think of the role of the state.
For all the criticism of spending reductions under the Coalition, there are actually more cuts to come after 2015.
Could what seems like a lifeline for buyers - the overhaul of the unpopular stamp duty - actually make it harder to land a property?