Spring Budget Live: Jeremy Hunt's budget announcement, expected changes to Windfall Tax and National Insurance
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Housing crisis
Jeremy Hunt confirms the introduction of a "British ISA", which is an extra £5k tax-free saving allowance on top of existing ISA, as long as the money is invested solely in UK equities.
Brucey bonus
The Chancellor says the Scottish Government is set to receive £300m in Barnett Formula consequentials. Don't spend it all at once.
When the hunter becomes the hunted
So far Jeremy Hunt has mocked Ed Davey, criticised the Lib Dems for supporting Labour in a theoretical coalition, praised his local pub, and sung the benefits of Surrey.
Nothing to see there, absolutely not worried about losing his seat, he's just also donated £100,000 of his own money to the local organisation because everything is going well.
Perfectly normal working environment
Incredibly rowdy in the Commons, with the Chancellor being met with constant heckles and jeers.
He snaps back: "They don’t have a growth plan so they may as well listen to ours".
Best of the rest
The Chancellor now insisting things are better in Britain than other countries.
He says: "We have grown faster than Germany, France or Italy, the three largest European economies. And according to the IMF, we will continue to grow faster than all three of them in the five years ahead."
Are you reassured? I'm reassured.
Maths is hard
Jeremy Hunt also announces the traditional freezing of fuel duty, which is quite bold given around half of his £13 billion headroom last time round was based on raising it.
He says it's a reaction to Sadiq Khan's war on drivers. Groan.
Slàinte Mhath?
The Chancellor announces a duty freeze on Scotch Whisky, spirits and all alcohol until February 2025. The Scotch Whisky Association has been calling for a cut, not a freeze.
Really good, actually
The Chancellor said the Government was in a position to deliver “permanent tax cuts”, and billed his financial statement as a “Budget for long-term growth”.
Jeremy Hunt said: “Because of the progress we’ve made, because we are delivering the Prime Minister’s economic priorities, we can now help families not just with temporary cost-of-living support, but with permanent cuts in taxation.”
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