Summary

  • George Osborne presents the 2015 budget

  • 2015 UK growth revised up to 2.5% by OBR

  • Chancellor pledges to end austerity by 2019/20

  • Tax free allowance to go up to £10,800 next year

  • New personal savings allowance for first £1,000 interest

  • Labour leader says chancellor has 'failed working families'

  1. Get in touchpublished at 14:05 Greenwich Mean Time 18 March 2015

    Abhishek emailed: "I am surprised that there were no announcements about improving the quality of schools, opening new grammar schools and childcare costs that affect UK families."

  2. The Budget at a glancepublished at 14:04 Greenwich Mean Time 18 March 2015

    Chancellor George Osborne holding a pint of beer in February 2014Image source, PA

    So there we have it: the chancellor has declared "Britain is walking tall again" after five years of coalition government. His Budget painted the picture of a "comeback country". Our news story on the Budget is just waiting to be read, while we've got a summary of the key points - and there are rather a lot of them - for your inspection too.

  3. Via Emailpublished at 14:02 Greenwich Mean Time 18 March 2015

    Professor Stephen Glaister
    RAC Foundation director

    "With fuel duty revenue making up about 5% of the Treasury's tax income there was never going to be a huge giveaway as the chancellor still desperately needs motorists' money. But with the latest figures showing that almost a million of the poorest households see a quarter of what they spend go on buying and running a car, the continued freeze is very welcome."

  4. Get in Touchpublished at 14:01 Greenwich Mean Time 18 March 2015

    Alexandra Ellis emailed about the behaviour in the house: "How rude to read a file when your leader is talking. If I did this in a meeting I would be called out. Watching the Budget these grown ups need to act like grown ups!"

  5. Get in touchpublished at 14:00 Greenwich Mean Time 18 March 2015

    Steve Pressman emails: "More lies, these so called jobs that have been created are all agency zero hours contracts jobs where you also have to be self employed, so even if you only work one hour a week you are now not classed as unemployed! Great way to get unemployment down and yet claim the country is working again!"

  6. Whisky dutypublished at 13:58 Greenwich Mean Time 18 March 2015

    The 2% cut in spirits' duty was only the fourth time whisky duty has been cut in a century, says David Frost, head of the Scotch Whisky Association. "The industry is raising a glass to George Osborne and his Treasury team, as well as to all those who have supported our campaign over the last two decades."

  7. Facebook Q&Apublished at 13:58 Greenwich Mean Time 18 March 2015

    Another invite to our Budget Q&A on Facebook. It's today at 15:00 GMT - the BBC's political correspondent Chris Mason will be standing by to answer your questions. You can find it here, external.

  8. The debate continuespublished at 13:57 Greenwich Mean Time 18 March 2015

    That's the end of Ed Miliband's response, and the Budget debate continues with responses from backbenchers. Andrew Tyrie, the chair of the Treasury select committee, is next. "We now should accept that the chancellor deserves a good deal of credit for the improved performance of the British economy," he says. Mr Tyrie is a Conservative, it should be noted.

  9. Get in touchpublished at 13:55 Greenwich Mean Time 18 March 2015

    Mark, in Lincoln, emails: "And how much more worse off than £1,600 per annum if Labour had remained in government? They buried debt over 13 predominantly good years!"

  10. Windy politicspublished at 13:55 Greenwich Mean Time 18 March 2015

    Ed Miliband - a former energy and climate change secretary, of course - contrasts the moratorium on onshore wind turbines with the turbine on David Cameron's own house. This is "extraordinary, even by his standards", he says, even though the prime minister is "a stranger to consistency".

  11. Miliband on the NHSpublished at 13:54 Greenwich Mean Time 18 March 2015

    Cutting the NHS, Ed Miliband says, is "the secret plan that dare not speak its name". There'll be "massive cuts" to social care as well, he warns. That means betraying the elderly "and putting unsustainable pressure on our National Health Service".

  12. Via Twitterpublished at 13:54 Greenwich Mean Time 18 March 2015

    Isabel Hardman
    Assistant editor, The Spectator

    If Labour can sustain and develop the "secret plan that dare not speak its name" line on the NHS then it has a good scary attack line

  13. Get in touchpublished at 13:54 Greenwich Mean Time 18 March 2015

    Kevin, in Hertfordshire, emails: "Abolition of tax return, information will go to HMRC automatically, so it will become difficult or impossible to check whether HMRC have got it right (which too often they fail to do)."

  14. Via Emailpublished at 13:53 Greenwich Mean Time 18 March 2015

    John Sauven
    Greenpeace UK Executive Director

    Announcing some progress on a new clean technology like tidal power is a welcome move, but the UK's renewable industry needs a long-term strategy not just a belated wink to green voters. This eleventh-hour move hardly makes up for six Budgets of business bungs for fracking, tax breaks for oil giants, and neglect for the green technologies of the future. It's a disappointing legacy for the man who once promised to turn the Treasury into a 'green ally' for the fight against climate change.

  15. Via Twitterpublished at 13:52 Greenwich Mean Time 18 March 2015

    John Moylan
    Industry correspondent, BBC News

    On North Sea Tax - looks like effective tax rate on pre 1993 fields falls from 81% to 67.5% - more here

  16. 'More pain to come'published at 13:51 Greenwich Mean Time 18 March 2015

    Labour leader, Ed Miliband

    The pace of cuts in the next few years, Ed Miliband points out, is going to be faster than it was in the last few years. "He came along today to try and suggest that the pain is over. But if they get back it isn't." He then attempts to provide "evidence" to back up this claim - starting with the prime minister's speech on education in which he outlined the possibility of future cuts.

  17. Get in touchpublished at 13:51 Greenwich Mean Time 18 March 2015

    Patrick Ryan, in Salisbury, emails: "Osborne says 'People have already paid tax once on their money when they earn it. They shouldn't have to pay tax a second time when they save it' Just when they die then?"

  18. More jokespublished at 13:50 Greenwich Mean Time 18 March 2015

    There's a lot of laughter in the Commons at the expense of Sir Tony Baldry, the expansive Tory backbencher. Earlier Greg Hands, had tried to "hide" behind Sir Tony to evade rebukes from the deputy speaker. Now Lindsay Hoyle singles out another MP who, because he's sitting in front of Sir Tony, can be seen "very clearly".

  19. Latest UK growth figurespublished at 13:50 Greenwich Mean Time 18 March 2015

    Growth figuresImage source, ONS
  20. Via Emailpublished at 13:49 Greenwich Mean Time 18 March 2015

    David McCorquodale
    KPMG head of retail

    The chancellor's announcement today saw many incremental ways of putting more pennies into consumers' pockets. Increases in the minimum wage and personal allowance combined with a 'penny off a pint' and a 'tenner in the tank' all point towards shoppers receiving a boost to their disposable income levels. A positive-sounding budget but still against a background of high national debt and low growth ahead meaning the retail sector has to continue to fight hard for market share growth to drive returns.