Summary

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  • Sunak pledges £30bn to help "British people, British jobs and British businesses"

  • Fuel duty remains frozen for another year

  • Planned rise in beer, cider and wine duties cancelled

  • £5bn for gigabit-capable broadband into the hardest to reach places of the UK

  • UK growth forecasts updated: 1.4% for 2020 and 1.6% for 2021

  • Government to abolish business rates for small shops this year

  1. £6bn of NHS spending promisedpublished at 13:39 Greenwich Mean Time 11 March 2020

    The chancellor promises to spend an extra £6bn on the NHS, which he says will pay for 50,000 more nurses, 50 million more GP surgery appointments and work to start on 40 new hospitals.

    He says the government has already pledged a "record" funding increase for the health service with £34bn promised over the next five years already promised.

    He says that is "the biggest cash increase in public services since the Second World War".

  2. New housing spending confirmedpublished at 13:35 Greenwich Mean Time 11 March 2020

    Mr Sunak lists the provision of affordable and safe housing as a priority.

    "Today I can make good our promise to extend the Affordable Homes Programme with a new, multi-year settlement of £12bn," the chancellor says.

    He describes that as the largest cash investment in affordable housing in a decade, when the Conservatives came into government.

    "To support local authorities to invest in their communities, I’m cutting interest rates on lending for social housing by one percentage point, he says.

    Mr Sunak says that will make more than £1bn of discounted loans available for local infrastructure.

    "I’m confirming nearly £1.1bn of allocations from the Housing Infrastructure Fund to build nearly 70,000 new homes in high demand areas across the country."

  3. Tax hikes hidden in the small print?published at 13:32 Greenwich Mean Time 11 March 2020

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  4. On the money?published at 13:31 Greenwich Mean Time 11 March 2020

    BBC business editor tweets

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  5. UK 'to plant forest larger than Birmingham'published at 13:30 Greenwich Mean Time 11 March 2020

    There are some more green funding announcements in the chancellor's Budget speech, including tree-planting and investment in carbon capture and storage.

    "We’re also supporting natural habitats like woodlands and peat bogs. I can confirm today that to protect, restore and expand these wonderful habitats – and capture carbon - we will provide £640m for a new nature for climate fund.

    "Over the next five years, we will plant around 30,000 hectares of trees – that’s a forest larger than Birmingham - and restore 35,000 hectares of peatland.

    "This government intends to be the first in history to leave our natural environment in a better state than we found it.

  6. Infrastructure spending boost confirmedpublished at 13:29 Greenwich Mean Time 11 March 2020

    Mr Sunak has confirmed reports that the government will boost spending on infrastructure.

    "We’re going to build broadband, railway, roads, he says, as he promises £5bn to get gigabit-capable broadband into the hardest to reach places and £510m of new investment into the shared rural mobile phone network

    He says that means 4G coverage will reach 95% of the country in the next five years.

    He confirms plans to spend £2.5bn filling in pot holes, which he says is enough to repair 50 million potholes.

  7. At-a-glance summary: Budget key pointspublished at 13:28 Greenwich Mean Time 11 March 2020

    Rishi Sunak outsideImage source, PA Media

    Rishi Sunak is delivering his first Budget in the House of Commons. Here's what you need to know.

    At-a-glance summary: Budget key points

    Rishi Sunak has delivered his first Budget in the House of Commons. Here's what you need to know.

    Read More
  8. Change in tack?published at 13:27 Greenwich Mean Time 11 March 2020

    BBC economics correspondent tweets

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  9. NHS to get 'whatever it needs, whatever it costs'published at 13:26 Greenwich Mean Time 11 March 2020

    Media caption,

    Budget 2020: Chancellor on coronavirus sick pay changes

    The chancellor sets out a £1bn three-point plan to help the UK economy cope with coronavirus.

    NHS to get 'whatever it needs, whatever it costs'

    The chancellor sets out a £1bn three-point plan to help the UK economy cope with coronavirus.

    Read More
  10. Is £800m enough for carbon capture development?published at 13:25 Greenwich Mean Time 11 March 2020

    BBC business editor tweets

    Rishi Sunak says carbon capture and storage is precisely the exciting tech Britain needs to develop. He says £800m will be invested to create two more carbon capture clusters, creating up to 6,000 low carbon jobs in the English regions and Scotland.

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  11. Flood defences get funding boostpublished at 13:25 Greenwich Mean Time 11 March 2020

    Following widespread recent UK flooding, the chancellor unveils funding to boost flood defences.

    "I can announce today that I’m making £120m available immediately to repair defences damaged in the winter floods.

    "To support those areas that have been repeatedly flooded, I’m providing £200m of funding directly to local communities to build flood resilience.

    "And to protect people and over 300,000 properties, I’m doubling our investment in flood defences over the next six years to £5.2bn."

  12. £500m promised for car charging hubspublished at 13:23 Greenwich Mean Time 11 March 2020

    Mr Sunak has promised to spend £500m to support the rollout of new rapid charging hubs for electric cars, which he says will ensure that drivers are never more than 30 miles away from being able to charge their vehicle.

    He says the government will also invest £300m in tackling nitrogen dioxide emissions in towns and cities across England.

    "As well as taxing pollution – we will invest and cut taxes on clean transport," the chancellor says.

    "We’re introducing a comprehensive package of tax and spend reforms to make it cheaper to buy zero or low emission cars, vans, motorbikes and taxis."

  13. R&D boost long-held dream for Dominic Cummingspublished at 13:20 Greenwich Mean Time 11 March 2020

    BBC political editor tweets

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  14. Chancellor to scrap diesel tax reliefpublished at 13:20 Greenwich Mean Time 11 March 2020

    The chancellor says he will scrap a scheme that allows companies in some sectors to pay duty of just over 11p per litre for diesel, compared to almost 58p per litre for everyone else.

    "But the sectors using red diesel are some of the biggest contributors to our air quality problem - emitting nearly 10% of the most noxious gases polluting the air of cities like London," he tells MPs.

    "This is a tax relief on nearly 14 million tonnes of carbon dioxide every year", which, he says, is the same as the entire population of London and Greater Manchester taking a return flight to New York.

    "It’s been a £2.4bn tax break for pollution that’s also hindered the development of cleaner alternatives. So I will abolish the tax relief for most sectors."

  15. UK to 'increase taxes on pollution'published at 13:18 Greenwich Mean Time 11 March 2020

    Chancellor Rishi Sunak gets to the green part of his speech, including raising the levy on gas and a new tax on plastics packaging:

    "First, we will increase taxes on pollution," he says.

    "Electricity is now a cleaner energy form than gas – but our climate change levy - paid by companies - taxes electricity at a higher rate.

    "So, as another step towards equalising the rates and encouraging energy efficiency, from April 2022 I’m freezing the levy on electricity and raising it on gas.

    "I will support the most energy-intensive industries to transition to net zero, by extending the climate change agreements scheme for a further two years.

    "To tackle the scourge of plastic waste, we will deliver our manifesto promise to introduce a new plastics packaging tax.

    "From April 2022, we will charge manufacturers and importers £200 per tonne on packaging made of less than 30% recycled plastic.

    "That will increase the use of recycled plastic in packaging by 40% - equal to carbon savings of nearly 200,000 tonnes."

  16. Not everyone happy about fuel duty freezepublished at 13:15 Greenwich Mean Time 11 March 2020

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  17. Would taxes have been cut without coronavirus?published at 13:14 Greenwich Mean Time 11 March 2020

    BBC global trade correspondent tweets

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  18. Fuel duty remains frozenpublished at 13:14 Greenwich Mean Time 11 March 2020

    Mr Sunak announces that fuel duty will be frozen for another year.

    "I have heard representations that after nine years of being frozen, at a cost of £110bn to the taxpayer, we can no longer afford to freeze fuel duty," he says.

    "I’m certainly mindful of the fiscal cost and the environmental impacts," he continues.

    "But I'm taking considerable steps in this Budget to incentivise cleaner forms of transport. And many working people still rely on their cars. So I’m pleased to announce today that, for another year, fuel duty will remain frozen."

  19. Alcohol duty rises frozenpublished at 13:12 Greenwich Mean Time 11 March 2020

    Taxes on alcoholic drinks will not be going up in this Budget.

    Chancellor Rishi Sunak says: "Scotch whisky is a crucial industry - and our largest food and drink export." The UK will "continue to lobby the US government" to remove a "harmful tariff" he says.

    "In the meantime, I’m announcing today £1m of support for promoting Scottish food and drink overseas and £10m of new R&D funding to help distilleries go green."

    "And to further support the industry, I can also announce that this year the planned increase in spirits duty will be cancelled."

    "I can announce that, exceptionally, for this year, the business rates discount for pubs will not be £1,000 – it will be £5,000. And I’m also pleased to announce that the planned rise in beer duty will also be cancelled."

    "And because of decisions I’ve taken elsewhere in the Budget, I am also freezing duties for cider and wine drinkers as well.

    "For only the second time in almost 20 years, that’s every single one of our alcohol duties frozen."

  20. So how much will people benefit from National Insurance change?published at 13:10 Greenwich Mean Time 11 March 2020

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    The chancellor has announced that National Insurance Contributions will be raised from £8,632 to £9,500, saving a typical employee £104 a year.

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