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 Blogpublished at 16:54 Greenwich Mean Time 18 March 2015

    Kamal Ahmed
    BBC Business editor

    If you work in the North Sea oil and gas sector, today was a good day. If you work in the City, today was not quite as cheery. Read Kamal's budget analysis here.

  2. Savings tax breakpublished at 16:49 Greenwich Mean Time 18 March 2015

    BBC News Channel

    Martin Lewis, MoneySavingExpert.com

    Personal finance expert Martin Lewis told the BBC News Channel: "[On] a thousand pounds interest, you'd currently pay £200 tax on that, as a basic rate tax payer. It's £200 a year maximum giveaway. But it will be very, very popular for the many, many people in the country who have savings and many pensioners out there."

  3. Get in touchpublished at 16:45 Greenwich Mean Time 18 March 2015

    Mark emails: I'm a public sector worker in the North East. Huge increase in pension contributions year after year and lack of pay rise (zero again this year) mean I'm taking home less pay than in 2010. Economic growth? How is it helping me and thousands of others? I am not better off than four-five years ago. My standard of living has been cut.

  4. North Sea oilpublished at 16:40 Greenwich Mean Time 18 March 2015

    BBC News Channel

    Jenny Laing, leader of Aberdeen City Council

    The leader of Aberdeen City Council, Jenny Laing, welcomes the new investment incentives and tax breaks given to the North Sea oil and gas industry. It will be great for Aberdeen, she tells the BBC. It will bring more jobs and investment into the city, she says.

  5. Get in touchpublished at 16:38 Greenwich Mean Time 18 March 2015

    Rosie Shaw in Cambridge emails: Properties for sale in Cambridge today online at or under £250,000: 18. Cheapest of those: £120,000 for a half share of a one bed flat. To put it politely, the new ISAs are no use at all in the areas where it's most difficult to buy. The Help to Buy ISAs start this autumn, it will take you four and a half years to save the maximum amount. A five year wait to get an extra £3,000 for your deposit. The the maximum property price outside London is £250,000.

  6. National Insurancepublished at 16:30 Greenwich Mean Time 18 March 2015

    BBC News Channel

    Economist Andrew Sentance tells the BBC that he would have like to have seen changes to national insurance. He accepts it would have been difficult for the chancellor to do something ahead of the general election, but says tax reforms should be high on the agenda for the next government.

  7. Are we better off?published at 16:21 Greenwich Mean Time 18 March 2015

    Radio 5 live

    So are we better off now than in 2010? On Radio 5 live Gemma Tetlow from the Institute for Fiscal Studies explains that Labour and the Conservatives use different measures. The Tories look at real household disposable income, which has been boosted by the return of people to the labour force and also includes pensions. Labour has been looking at average earnings of employees, which are still lower that in 2010.

  8. DUP: Budget 'won't make much difference'published at 16:15 Greenwich Mean Time 18 March 2015

    BBC News Channel

    DUP Leader Peter Robinson

    DUP leader Peter Robinson has told the BBC that, in terms of public spending, it doesn't make much difference whether Labour or the Conservatives are in power in Westminster.

    The first minister of Northern Ireland said: "From a Northern Ireland point of view, there is very little - we're talking about single digit figures - of a difference in our public expenditure that we would receive."

  9. Get in touchpublished at 16:09 Greenwich Mean Time 18 March 2015

    Jennifer Dong emails: I'm frustrated. I am eager to see what will be put in place. I've been looking for a house with my fiance for the last year. We saved our deposit and we are both in full time employment. We've had no help from family. We have a budget of about £250 thousand pounds but we thought the change in stamp duty would help us. But when the stamp duty changed, the prices shot up. We've had to look further out because of the changes in Stamp Duty.

  10. Via Twitterpublished at 16:07 Greenwich Mean Time 18 March 2015

    Dave Harvey
    BBC West of England, Business reporter

    Cider maker Swindon

    A happy cider maker. In Swindon, wd u believe? 2% duty cut. You get everything in this town #budget2015.

  11. Get in touchpublished at 16:03 Greenwich Mean Time 18 March 2015

    Anthony emails: So the chancellor says the recovery is happening , well the truth is: too many people are an 0 hour contracts most new jobs are self employed , and many people are not earning a real living. If the recovery is happening why is every high street been decimated by bankruptcy and empty shops? Many other new jobs are 'agency' workers, having to re-apply for work every 12 weeks and long periods of 'no assignments' and no hope of Job Seekers allowance for these periods. The minimum wage has fallen in real terms and many workers especially in retail and the public sector having substantially reduced living standards.

  12. Joe Twyman, Head of political and social research at YouGovpublished at 15:52 Greenwich Mean Time 18 March 2015

    Tweets, external: Which party's voters think their financial situation will improve over next 12 months? Con: 1 in 3, Lab: 1 in 7, LD: 1 in 4, UKIP: 1 in 8.

  13. Business boostpublished at 15:51 Greenwich Mean Time 18 March 2015

    The CBI, which represents British business interests, has offered a broad welcome to today's Budget measures. "Stability and consistency are what businesses need to grow and prosper," director general John Cridland says. "This Budget sets the tone, providing a clear plan for fiscal health and growth." The corporation tax cut, help for the oil and gas industry and continuation of the annual investment allowance are all greeted with enthusiasm, but Mr Cridland believes there is more to do in response to the improved fiscal situation. He adds: "In the next parliament this fiscal breathing space should be used to achieve intelligent reductions in public spending, together with much-needed infrastructure and innovation."

  14. Three buttonspublished at 15:48 Greenwich Mean Time 18 March 2015

    George Osborne

    One or two commentators online have been as riled by the chancellor's sartorial choices as his fiscal ones today: his three-buttoned suit is "against gentlemen's outfitters orthodoxy", the Scotsman's deputy editor Kenny Farquharson tweets, external.

  15. Via Twitterpublished at 15:47 Greenwich Mean Time 18 March 2015

    Faisal Islam
    SkyNews Political Editor

    OBR now projecting faster surge in household debt... Higher than Brown levels (170% GDP) by 2018

  16. US interest ratespublished at 15:45 Greenwich Mean Time 18 March 2015

    Wall Street signImage source, Getty Images

    Now the Budget is out of the way, investors can get back to fretting about interest rates. There will be a key announcement later when the US Federal Reserve issues a statement at 18:00 GMT and holds a press conference half an hour later. The Fed is expected to provide some indication of when its first interest rate increase in nearly a decade will happen. It's a big deal in the financial markets.

  17. Tweet uspublished at 15:43 Greenwich Mean Time 18 March 2015

    @discodejenerate tweets: @BBC_HaveYourSay I guess you can split how people will vote by whether they think what's in this #Budget2015 is for 'me' or for 'us' #SaveOurNHS

  18. Get in touchpublished at 15:42 Greenwich Mean Time 18 March 2015

    Mikkel Erikson has some positive thoughts: "Definitely a Budget which is looking to provide the foundations for a future generation. It's about time we build the foundations of a stable economy for our children to inherit. People will always complain and suggest cutting something not relevant to them, but this is a fair Budget for the majority."

  19. 'A different agenda'published at 15:40 Greenwich Mean Time 18 March 2015

    Angus Robertson and Jonathan Edwards

    The SNP's Angus Robertson and Jonathan Edwards of Plaid Cymru offer a nationalist perspective on the Budget. "What we didn't hear are the plans of the current coalition government for £30bn of austerity," Mr Robertson says. "We shouldn't lose sight of the fact that Labour voted for that £30bn austerity programme as well." He says people are prepared to support a "different agenda" - and that the difference between the SNP's approach and that of the mainstream parties adds up to £180bn. Mr Edwards says the SNP and Plaid work for a "common agenda". He calls for Wales to have equality of funding with Scotland and accuses the Westminster parties of having "moved the goalposts" on the issue.

  20. Via Emailpublished at 15:39 Greenwich Mean Time 18 March 2015

    Tom Aston
    KPMG tax partner

    The bank levy increase will be painful for global banks who have their headquarters in the UK. It will be a case of one step forward two steps back for banks who are trying to deliver cost-cutting commitments. It is disappointing given that the tougher rules on banks using tax losses announced in the autumn statement were supposed to be in place of a higher bank levy.