Budget 2014: Key Points At A Glance
  Updated: 2:27pm UK, Wednesday 19 March 2014
  The Chancellor George Osborne has delivered his fifth budget. Here are the key points.
  Savings
  :: Tax-free ISAs to be boosted to £15,000 per year from July. Junior ISAs up to £4,000 a year.
  :: Stocks and shares ISAs can be tranferred to new single ISA scheme.
  :: Premium Bonds cap lifted from £30,000 to £40,000 in June, and to £50,000 next year.
  :: 10p rate of tax for savers to be abolished.
  :: Zero tax band to cover £5,000 of savings.
    Reliefs
  :: Alcohol escalator to be scrapped for all alcohol duties, instead a rise with inflation.
  :: Scottish whisky duty to be frozen as it is "a huge British success story".
  :: Cut of 1p in duty per pint of beer.
  :: Export finance lending interest rate to be cut by a third and lending doubled to £3bn.
  :: From 2015, all long haul air passenger flights carry same, lower, band B tax rate.
  :: Right to Build scheme for builders of their own homes including £150m of finance to support it.
  :: New £200m fund for councils "to bid for" to fix potholes across Britain.
  :: Additional £140m help for flood damage.
  :: September's fuel duty rise will not be brought in.
    Taxes
  :: Duty on fixed-odds betting terminals to rise to 25%.
  :: Horse race betting levy to be extended to bookmakers based offshore.
  :: Bingo duty will be halved to 10% "to protect jobs and protect communities".
  :: Tobacco duty to remain at 2% above inflation and escalator will not be stopped.
  :: Increased disclosed tax avoidance schemes scrutiny for the wealthy.
  :: City fines over Libor rate-rigging to continue going to military charities and emergency service charities.
  :: From midnight anyone buying home over £500,000 through corporate entity to pay 15% stamp duty to "avoid abuse".
  :: "We will expand the tax on residential properties worth over £2m to those worth more than £500,000."
  :: Private jets, previously not taxed, will see tax levied on flights.
    Income Tax
  :: Personal tax allowance rises to £10,500 next year, giving average saving of £800.
  :: 40p tax rate threshold to rise from £41,450 to £41,865 from next month and then up by further 1% to £42,285 next year.
  :: Transferable tax allowance for married couples rising to £1,050.
    Pensions
  :: All retirees on defined contribution pensions to be offered free, impartial, face-to-face advice.
  :: No need for pensioners to buy annuities if they do not wish to.
  :: Removal of all remaining tax restrictions on how pensioners have access to their pension pots.
  :: Income requirement for flexible draw-down from £20,000 to £12,000, raised cap draw-down limit from 120% to 150%.
  :: Lump sum small pot level lifted five-fold to £10,000.
  :: Almost doubling total pension savings as a lump sum to £30,000.
  :: £20m  to be spent in next two years working with consumer groups over pension advice.
  :: New Pensioner Bond paying market leading rates, issued by National Savings and Investments, open to everyone aged 65 or over. Available from January next year.
     
  Spending and Welfare
  :: Foreign aid to be 0.7% of national income.
  :: Public sector spending reduction to reach £1bn by 2015-16.
  :: A permanent cap on welfare, excluding state pension, set at £119bn in 2015-16, rising in line with forecast inflation to £127bn in 2018-19.
    Growth
  :: Independent OBR growth forecast revised upwards to 2.7%, up from 2.4% in Autumn Statement.
  :: Growth next year is also revised up to 2.3%, then 2.6% in 2016 and 2017, with growth expected to return to long-term trend of 2.5% in 2018.
  :: 1.5 million new jobs forecast in next five years.
    Borrowing
  :: Deficit this year of 6.6% reduced to 5.5%  next year, then expected to be 4.2%, 2.4% and finally 0.8% in 2017-18. Following year forecast surplus of 0.2%.
  :: Expect to borrow £108bn this year, £12bn less than forecast last year. No borrowing from 2018-19.
  :: OBR forecasts public debt to be 74.5% of GDP this year; 77.3% next year; peaking at 78.7% in 2015-16 - lower than the 80% previously forecast - before falling to 78.3% in 2016-17, then falling to 76.5% and then 74.2% in 2018-19.
  :: The new £1 coin to thwart forgery and "In honour of our Queen".
    Jobs
  :: Support for more than 100,000 new apprenticeships.
  :: New Alan Turing Institute for computing "big data" to boost Britain's IT prowess.
    Business
  :: New allowance for ultra high pressure, high temperature oil field for North Sea oil and gas.
  :: Tax relief of up to 25% for touring theatrical productions.
  :: VAT relief on fuel for air ambulances and inshore rescue boat services across Britain, and a new air ambulance for London.
  :: Accept recommendation to move collection of Class 2 NICs into self-assessment, abolishing for 5 million people "this wholly unnecessary bureaucracy".
  :: Corporation tax - high street stores will get £1,000 off their rates, and businesses the £2,000 Employment Allowance.
  :: From next year, corporation tax to drop from 21% to 20% and under-21s taken out of the jobs tax.
  :: Business rates discounts and enhanced capital allowances will be extended for another three years.