Budget 2015: Key points round-up

George Osborne has delivered the first solely Conservative Budget since 1996.

The Chancellor told MPs he will reduce welfare spending by freezing working age benefits for the next four years, child tax credits will be limited to the first two children in a family from April 2017 and the benefits cap is to be reduced from £26,000 per family to £20,000 across the UK, except London.

Mr Osborne also announced a new national living wage that will increase from £7.20 per hour to £9 an hour for the lowest paid workers by 2020.

BBC Scotland's economy editor Douglas Fraser rounds up the key points and what it all means.