Main points of Alistair Darling's spring 2010 Budget.

Chancellor Alistair Darling rose to deliver his Budget at 12.33pm.

He said he was setting out a Budget to secure the recovery and tackle borrowing. The economy is at a crossroads and Budget sets out a route to long-term prosperity.

Mr Darling will stick to plan to halve the deficit within four years.

Tax on bankers' bonuses raised £2 billion in 2009/10, twice as much as forecast.

Guarantee that everyone will have access to a bank account, creating a million more bank customers.

Work or training for all under-24s out of work for six months.

Six more months of mortgage support for the unemployed.

Stamp duty limit to double from £125,000 to £250,000 from tonight, funded by an increase to 5% on £1 million-plus homes.

ISAs: Limit to rise from £7,200 to £10,200 and will increase thereafter annually in line with inflation.

Economy growth forecast lowered for 2011 to 3-3.5%.

Inflation next year forecast to be back to 2%.

Tax receipts better than forecast in the first quarter.

Borrowing this year should now be £11 billion lower than forecast, down from £178 billion to £167 billion.

Debt expected to be £100 billion lower by 2013-14 than forecast.

Deficit will be halved over a four-year period.

No further announcements on VAT, income tax or insurance.

Duty on beer, wine and spirits to rise 2%. Tax on cider increased by 10% above inflation from midnight on Sunday.

Tobacco duty increases today by 1% above inflation this year, then 2%.

Inheritance tax threshold frozen for four years.

Savings across the public sector "tough but achievable":
:: Departments will publish details about how to achieve £11 billion of new savings.
:: Total of 15,000 civil servants relocated, including 1,000 Ministry of Justice posts moved out of London.
:: From October next year, most expensive properties excluded from housing benefit scheme.
:: Progress on £16 billion asset sales, including Dartford Crossing, the Tote and student loan book.

RBS and Lloyds to provide £94 billion of new business loans, half of them to small and medium businesses.

New growth capital fund to provide capital for fast growing firms.

Business rates cut for a year from October - meaning 345,000 will pay no rates at all.

Tax allowances for entrepreneurs and no increase in capital gains tax.

£100 million to repair local roads after winter damage and £285 million for motorways.

£2 billion green investment bank to provide equity to unlock private sector energy investment.

Motor industry supported to develop electric cars.

Help for creative sector including computer games and film industries to be offered.

Universities must make efficiency savings. £35 million for University Enterprise Capital Fund for innovation. £270 million one-off payment for university modernisation.

Tax information agreements ready to be signed with three more countries - Dominica, Grenada and Belize.

£4 increase in child tax credit for young children from 2012.

Mr Darling sat down at the conclusion of his Budget at 1.30pm.


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