Budget 2014: Savings, pension and tax changes explained

Changes to savings, pensions and the personal tax allowance have been unveiled in George Osborne's latest Budget.

The amount that can be saved tax-free in Isas is to rise, as is the level at which workers are required to pay income tax.

Pensioners will also get a higher interest savings option and will no longer have to use their pension pot to buy annuities.

The BBC's chief economics correspondent Hugh Pym reports.