Chancellor Gordon Brown stood up to deliver his Pre-Budget Report at 3.31pm.

* Inflation on course to meet 2% target.

* Growth this year at 1.75%.

* Exports will rise by more than 5% next year and the year after.

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* Growth to rise to 2-2.5% next year and 2.75-3.25% in the following two years.

* Employment has risen by 330,000 over the past 12 months to 28.8 million, the highest in UK history.

* Headline rise in NHS pay to be in line with 2% target and total increase in education pay bill to be 2.8%, as part of the Government's effort to keep the lid on public sector pay.

* Reforms will help firms access research and development tax credits while a network of innovation centres will be created in each region.

* A scheme to train workers will be rolled out nationwide to include 50,000 firms and 300,000 employees.

* Deputy Prime Minister John Prescott to publish new planning guidelines to increase rate of house building.

* Local authorities to be obliged to accelerate planning consent and asked to bring forward brownfield sites for development.

* New legislation for Real Estate Investment Trusts to increase funding for new property developments.

* A consultation to be launched on proposals for a local planning gain supplement giving local councils a share in the profit made by landowners on areas gaining planning permission.

* Small businesses will be able to take advantage of more flexible VAT payments while a new film tax credit will be worth 16% to big budget productions and 20% to smaller films.

* #305 million will be made available in 2006 and #508 million in 2007 to help reduce the pressure on council tax.

* Current budget deficit to fall from #19 billion last year to #10 billion this year.

* Current Budget deficit predicted to fall to #4 billion next year, zero the following year and then to become a surplus of #7 billion, #11 billion and #13 billion in subsequent years.

* The Government's fiscal rule to be met in this cycle by more than #16 billion.

* What does it all mean? See Tuesday's Birmingham Post for the best Pre Budget Report analysis and reaction *

* Total net borrowing will fall from #37 billion this year to #34 billion, #31 billion, then #26 billion, #23 billion and then #22 billion.

* Public investment will rise to #31 billion in 2007 and to #32 billion, #34 billion and #35 billion in the years after.

* An additional #135 million announced for security and counter-terrorism.

* An extra #580 million for the armed forces to cover operations in Iraq and Afghanistan and other additional commitments.

* New rules on repaying money wrongly awarded to families under the Tax Credits system will avoid hardship.

* Supplementary North Sea charge on energy companies increased from 10% to 20%.

* Capital allowances for the production of the most environmentally friendly bio-fuels is to be enhanced.

* A new partnership with Norway was announced to work on carbon capture and
storage.

* Freeze on petrol, diesel, and road fuel gas duties for this financial year, at a cost to the Treasury of #600 million.

* Further support will be given for clean coal.

* Extra funding was also announced for the carbon trust.

* Winter fuel payment to the elderly to be #200 this year and every year of this Parliament and #300 for the over-80s.

* Older people in England on the pensions credit will be given free installation of central heating while other pensioners receive #300 towards the cost. 

* Those on the Pensions Credit will also receive free insulation while other pensioners receive #175 towards the cost.

* Unclaimed assets in bank and building society accounts to be used to improve youth and community facilities. 

* Government to fund #100 million National Youth Community Service providing gap year opportunities and community service in every constituency. 

* New National Sports Foundation to invest in facilities and #500,000 for each local authority over the coming two years to fund youth services. 

The Chancellor sat down at 4.06pm. 

 

What does it all mean? See Tuesday's Birmingham Post for the best Pre Budget Report analysis and reaction

What do you think? Tell us your view of the Pre Budget Report - get in touch by email, messageboard or by sending an electronic letter to the editor