● Chancellor Alistair Darling expects the economy to begin to grow again by the end of this year.
● Total policy support for the UK economy is expected to protect up to 500,000 jobs.
● GDP growth forecast this year is minus 3.5 per cent.
● Growth of 1.25 per cent forecast for next year. 3.5 per cent a year from 2011.
● Inflation expected to fall to one per cent by December.
● Deficit expected to halve in four years.
● Budget measures represent fiscal easing of 0.5 per cent of GDP this year.
● Public sector borrowing to hit £175bn this year – 12 per cent of GDP – but to fall to 9.1 per cent in two years.
JOBS
● Extra £1.7bn for Job Centre Plus network.
● From January, everyone under 25 and out of work will receive a job or training.
● Pledge to create 250,000 extra jobs and £260m extra for skills and training.
HOMES
● More help for unemployed to reduce repossessions.
● Stamp duty holiday on homes up to £175,000 extended to end of year.
BUSINESS
● Loss-making firms can reclaim tax on profits from past three years.
TAX
● From April 2011, pension tax relief restricted for those on incomes over £150,000.
● No income tax increase this year, but the planned new top income tax rate of 45 per cent on incomes above £150,000 will be increased to 50 per cent and take effect from next April – a year early.
● Alcohol and tobacco duties up by two per cent instantly.
● ISA savings tax-free limit raised to £10,000 (£5,100 in cash) for over-50s this year and for everyone else next year.
TRANSPORT
● Fuel duty will increase by 2p a litre in September, then by 1p a litre above inflation rate each April for four years.
● Car industry scrappage scheme of £2,000 for cars over ten years old from next month to March 2010.
INVESTMENT
● £5bn further efficiency savings in public services, rising to £9bn by 2013-14.
● Capital investment to continue until 2012. 1.25 per cent of GDP after 2013.
ENVIRONMENT
● Extra £1bn to help climate change measures.
● £50m to modernise Armed Forces housing.
● North Sea oil exploration incentives.
● Main capital allowance for firms doubled to 40 per cent.
● Britain committed to cut carbon emissions by 34 per cent by 2020.
● £435m of extra support to deliver energy efficiency measures for homes, firms and public buildings.
● £525m new funds and support for offshore wind projects.
● £4bn more for renewable energy projects.
● New power plants exempt from climate change levy from 2013.
TECHNOLOGY
● Extra funding to extend broadband network.
● £750m investment fund to help emerging technologies.
FAMILIES AND PENSIONS
● From April next year, child element of child tax credit up £20.
● Grandparents who are carers of children will see that work qualify towards state pension.
● Pensions will rise in real terms.
● Capital disregard on Pension Credit to be raised from £6,000 to £10,000 from November.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here