Some of the headlines are:
Tax Credits/Welfare – The planned £4.4bn cuts to working tax credits as part of plans to reduce the welfare bill by £12billion, has now been abandoned and tax credits will now remain unchanged.
The Chancellor said the £12bn of welfare savings will be “delivered in a way that helps families as we make the progression to a national living wage”
The Chancellor also says that “more than a million” more jobs will be created over the next five years.
Council Tax – It’s been confirmed that local councils have the freedom to increase council tax bills by more than 2 per cent, to help pay for social care funding.
Childcare – 30 hours free childcare for 3 and 4-year-olds from 2017, to parents working more than 16 hours and earning less than £100,000.
Pensions – The basic state pension will increase by £3.35 a week next year, taking the weekly ‘single tier’ total up to £155.65 for new pensioners.
Housing – £2bn has been set aside for more than 400,000 “affordable homes” to be built in England, to buy and to rent. Stamp duty for Buy To Let homes will be 3% higher than for regular stamp duty.
Right-to-buy is being extended to housing association tenants starting with a new pilot in five housing associations from midnight.
Help To Buy will be a shared ownership venture aimed at allowing people to get equity loans to help buy a home. London Help to Buy gives a 40% interest-free loan to first-time buyers.
Arts & sport: Arts Council funding will be increased so as to keep free museum entry. UK sport budget will increase by 29% “so we go for gold in Rio and in Tokyo”.