George Osborne has delivered his 8th Budget as chancellor. Here is a summary of what was announced.

Growth forecast to be 2% in 2016, down from 2.4% in November’s Autumn Statement
GDP predicted to grow 2.2% and 2.1% in 2017 and 2018, down from 2.4% and 2.5% forecast four months ago
A million jobs forecast to be created by 2020
Inflation forecast to be 0.7% for 2016, rising to 1.6% next year

Corporation Tax will be cut again to 17% by 2020
Annual threshold for 100% relief on business rates for small firms to rise from £6,000 to £12,000 and the higher rate from £18,000 to £51,000, exempting 600,000 firms
Relief on interest payments will now be capped at 30% of UK earnings, with exceptions for groups with legitimately high interest payments
The government will raise nearly £8 billion from large companies and multinationals through changes to the rules on interest and other measures
Petroleum revenue tax to be “effectively abolished”
Crackdown on foreign firms selling products online in UK without paying VAT
New stamp duty rates and tax bands will be 0% for the portion of the transaction value up to £150,000; 2% between £150,001 and £250,000, and 5% above £250,000
New 2% stamp duty rate on leases with a net present value over £5 million

Further £3.5 billion of savings from departmental spending in 2019-20
Annual borrowing in 2015-6 forecast to be £72.2bn, £1.3bn lower than forecast in November
Public finances still projected to achieve a £10.4bn surplus in 2019-2020
Borrowing forecasts revised up to £55.5bn (+£5.6bn), £38.8bn (+£14bn) and £21.4bn (+16.8bn) in 2016-7, 2017-8 and 2018-9 respectively

A new sugar taxon the soft drinks industry to be introduced in two years’ time, raising £520m a year to be spent on doubling funding for primary school sport in England
Secondary schoolsin England to bid for £285m in new funding for extra after-school activities like sport and art
A longer school day for 25% of secondary schools
Every school will be an academy by 2022

The point at which people pay the higher rate of Income Tax will increase from £42,385 to £43,000 in 2016 and to £45,000 in April 2017
Tax-free personal allowance, the amount of income you can earn before you start paying Income Tax, will rise to £11,000 in 2016, and will increase further to £11,500 in April 2017
From April 2016, the higher rate of Capital Gains Tax will be cut from 28% to 20% and the basic rate from 18% to 10%
Insurance premium tax to rise from 9.5% to 10%
Class 2 National Insurance contributions (NICs) for self-employed people will be scrapped from April 2018

The total annual ISA limit will be increased from £15,240 to £20,000 from April 2017
From April 2017, adults under 40 will be able to open a new Lifetime ISA and save up to £4,000 each year, also savers will receive a 25% bonus from the government on the money saved
New state-backed savings scheme for low-paid workers, worth up to £1,200 over four years

Fuel duty to be frozen at 57.95p per litre for sixth year in a row
Beer, cider, and spirits duties to be frozen
Inflation rise in duties on wine and other alcohol
Excise duties on tobacco to rise by 2% above inflation
New rail lines to get green light, including Crossrail 2 in London and the HS3 link between Manchester and Leeds
More than £230m earmarked for road improvements in the north of England

New tax relief for museums to boost temporary and touring exhibitions.