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| Version 0 | Version 1 |
|---|---|
| Budget 2016 summary: Key points at-a-glance | Budget 2016 summary: Key points at-a-glance |
| (about 3 hours later) | |
| George Osborne is delivering his eighth Budget as chancellor. The key points of what he says will be added to this page as he speaks. | |
| The state of the economy | The state of the economy |
| Growth of 2% forecast for 2016, revised down from 2.4% in November's Autumn Statement | |
| Forecast growth of 2.2% and 2.1% in 2017 and 2018, revised down from 2.4% and 2.5% four months ago | |
| Outlook for global economy is "materially weaker" and UK "not immune" to slowdown elsewhere | |
| The UK will still growing faster than any other major economy and on course for a budget surplus | |
| A million jobs forecast to be created by 2020 | |
| Inflation of 0.7% forecast for 2016 | |
| Public borrowing/deficit/spending | Public borrowing/deficit/spending |
| Spending as a share of GDP to fall to 36.9% by 2020 | |
| Further spending cuts of £3.5bn by 2020 | |
| Debt as a share of GDP forecast to be 82.6% in 2015-16, up from 82.5% forecast in November, before falling to 81.3%, 79.9%, 77.2%, 74.7% in subsequent years | |
| Debt to be £9bn lower in 2015-16 in cash terms | |
| Personal taxation | Personal taxation |
| Alcohol, tobacco, gambling and fuel | Alcohol, tobacco, gambling and fuel |
| Pensions and savings | Pensions and savings |
| Business | Business |
| Education and health | Education and health |
| Housing/infrastructure/transport/regions | Housing/infrastructure/transport/regions |
| Welfare | Welfare |
| Disability benefits bill to increase in real terms | |
| What we already know |