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. Via Twitterpublished at 12:09 Greenwich Mean Time 18 March 2015

    Faisal Islam
    Sky News Political Editor

    Too many kitchen jokes. Miliband sounding more serious here.

  2. Pic: Ed Miliband making a pointpublished at 12:08 Greenwich Mean Time 18 March 2015

    Ed Miliband
  3. 'Target met!'published at 12:07 Greenwich Mean Time 18 March 2015

    Ed Miliband's third broken promise question is about cancer. The NHS is missing the 62-day treatment promise. David Cameron addresses the question by citing cancer waiting times in Mr Miliband's own Doncaster constituency. Nick Clegg, sitting by his side, seems thoroughly amused.

  4. Two kitchenspublished at 12:06 Greenwich Mean Time 18 March 2015

    And here's a second question from Ed Miliband on the NHS, as he cites the four-hour A&E target as a "broken promise". David Cameron is more interested in Mr Miliband's kitchens. "I feel sorry for the leader of the opposition - he literally doesn't know where his next meal's coming from!" Lots of laughter in the Commons right now at the Labour leader's expense.

  5. Wrong-footing Cameron?published at 12:06 Greenwich Mean Time 18 March 2015

    Ed Miliband starts off with the NHS - unexpectedly, he's not leading on the Budget. Instead, he raises the Conservatives' promise in 2010 not to go ahead with a top-down reorganisation of the NHS.

  6. Pic: David Cameron in full flowpublished at 12:05 Greenwich Mean Time 18 March 2015

    David Cameron
  7. PMQspublished at 12:04 Greenwich Mean Time 18 March 2015

    We're off with Prime Minister's Questions just ahead of the Budget. Ian Murray, Labour MP for Edinburgh South, asks David Cameron about the government's economic record. He responds that tens of thousands of jobs have been created with a record number of people in work - and the claimant count is down 49% in Mr Murray's constituency.

  8. Via Twitterpublished at 11:59 Greenwich Mean Time 18 March 2015

    James Landale
    Deputy political editor

    Big Budget question: can George Osborne translate economic recovery into Tory votes? #budget2015

  9. Pic: In the Commonspublished at 11:58 Greenwich Mean Time 18 March 2015

    House of Commons

    Not many seats left.

  10. Get in touchpublished at 11:53 Greenwich Mean Time 18 March 2015

    Russell writes to say: "A VAT threshold increase will benefit small business and help them grow because at the moment if you just go over the current band you are considerably worse off. A minimum of £100,000 vat threshold would be a start."

  11. What business wantspublished at 11:52 Greenwich Mean Time 18 March 2015

    Kamal Ahmed
    BBC Business editor

    Expect some help in the Budget for big business, which is very much a part of the government drive to rebalance the economy and reduce the reliance on public sector employment. There will be measures to support North Sea oil and gas producers in the wake of the slide in oil prices, such as tax cuts and relief on investment. George Osborne is also expected to announce moves aimed at getting big technology companies to pay their "fair share" of UK tax - and a crackdown on tax evasion as well.

  12. Via Twitterpublished at 11:50 Greenwich Mean Time 18 March 2015

    Paul Lewis
    Presenter, Money Box

    Royal Mint refusing to answer questions on size, weight or other factual aspects of new £1 coin referring me to Treasury #Budget2015

  13. Tom Newton Dunn, Sun political editorpublished at 11:46 Greenwich Mean Time 18 March 2015

    tweets:, external Vicious #Budget2015 rumour circulating that Osborne will attempt a massive Labour land grab and pinch a big left wing policy. Living Wage?

  14. Why the windfall?published at 11:44 Greenwich Mean Time 18 March 2015

    Robert Peston
    Economics editor

    BBC Budget special

    George Osborne was not able to get borrowing under control in the way he wanted earlier in this parliament because growth proved to be disappointing. Austerity measures and the eurozone crisis were two factors responsible for that. Although growth has recently gained momentum, wages have not and thus income tax revenues have not increased. So why does the chancellor have wiggle room in this Budget? The sharp fall in inflation means the government has to spend less on interest payments and welfare - resulting in a windfall of at least £6bn.

  15. Get in touchpublished at 11:43 Greenwich Mean Time 18 March 2015

    Brian writes to say: "I'd like to see punitive taxation on buy-to-let property investors and on non-domiciled property owners. At the very least, ending mortgage interest relief for buy-to-let speculators! This would allow young people to compete on a level playing field for homes, rather than being forced into rent servitude."

  16. Get in touchpublished at 11:40 Greenwich Mean Time 18 March 2015

    John writes: "How does an increase in tax allowance help anyone not already not paying tax? Why not decrease VAT? That would help everyone!"

  17. Get in touchpublished at 11:39 Greenwich Mean Time 18 March 2015

    Mark Ferris, in Shepperton, emails: "All I can say is, if there is an extra £6 billion, I would like it to pay off the existing debt even if it means more spending cuts. Labour are very wrong if they still believe we can ignore the enormous debt the country is in!"

  18. Get in touchpublished at 11:39 Greenwich Mean Time 18 March 2015

    Richard Bryant-Jefferies, in Epsom, emails: "Why is no-one talking about how much the UK is in debt? Whether it has actually reduced under this government, or not? And who we actually are in hock to?"

  19. Five years in officepublished at 11:38 Greenwich Mean Time 18 March 2015

    George Osborne in 2010 and 2015Image source, PA

    What a difference five years makes. Shinier box, different hair, slimmer physique - and, the coalition would say, a totally different economic outlook.

  20. Allegra Stratton, political editor, BBC Newsnightpublished at 11:33 Greenwich Mean Time 18 March 2015

    tweets:, external Senior sources rubbished a national insurance move recently... It didn't poll as well as Tax free thresholds. Too technical. We'll see.