CHANCELLOR George Osborne has today announced the final Budget before the General Election.

Here is a summary of some of the measures he announced:

  • An end to the annual paper tax return
  • A one per cent duty cut for beer and two per cent for cider and Scotch whisky
  • A freeze in fuel duty
  • More announcements on devolution for certain regions - but not the Solent
  • Tax free allowance will rise to £10,800 this year and £11,000 next year
  • Existing pensioners will be able to cash in on their pension annuities
  • Southampton one of 22 cities where businesses will benefit from free superfast broadband

At the start of his speech, Mr Osborne said: "Today we report on a Britain that is growing, creating jobs and paying its way.

"We took the difficult decisions in the teeth of opposition and it worked."

He says the UK is the fastest growing economy in the developed world and that more people are in employment in the country than ever before.

Mr Osborne has said a future Conservative-led Government would use "whatever resources are available" to get the deficit falling.

He says that savers and pensioners will benefit from a "truly national recovery", that he says has seen the economy in the North grow faster than in the South.

 


The department added: ''The OBR confirm today that at 2.6 per cent, Britain grew faster than any other major advanced economy in the world last year.''

UK Trade and Investment resources is to double support for British exporters to China.

Mr Osborne said that ''Britain is walking tall again'' with faster growth than any major economy.

He says the UK's debt share is falling, adding that: "The sun is starting to shine and we are fixing the roof."

OBR confirms deficit is less than half of that inherited from the previous government, but at 5 per cent this year ''it's still far too high and it must come down''.

In a clear pre-election shot at Labour, he says changing from the path set out by his Government would be a "tragedy", adding: "Britain is on the right track and we must not turn back."

The Chancellor had to battle against a barrage of shouts from the Labour benches, to say that child poverty, inequality and youth unemployment were down.

He says Chief Secretary to the Treasury Danny Alexander will announce new plans for criminal penalties for tax evasion, saying: "This country's tolerance for those who will not pay their fair share of taxes has come to an end."

There was lots of talk of devolution for the North, including allowing 100 per cent of additional growth in business rates for Greater Manchester and funding for the Midlands - but nothing on the South so far.

£1 million is to be made available to buy defibrillators for public places, including schools.

This follows the Daily Echo’s Save a Life in Schools campaign, appealing for defibrillators in school in Hampshire. 

One measure that will benefit small and medium-sized businesses in Southampton is the announcement that they will get up to £3,000 worth of free superfast broadband support.

There will also be transport investment of £7 billion in the South West, including new intercity rail franchise.

Declaring ''this is the Budget for Britain, the comeback country'' the Chancellor concluded his Budget statement at 1.31pm.

Hitting straight back, Labour leader Ed Miliband said: "This is a budget that people won't believe from a government that's not on their side".