Budget 2014 main points: Tax | Pensions | Economy

George Osborne delivers the Budget 2014 speech in the House of Commons. Picture: PA

A rundown of the main points from today’s Budget announcement including tax measures, employment measures and investment figures.

George Osborne hailed the success of the coalition’s austerity plan as he delivered his fifth Budget today - insisting the Government will be back in the black by 2018.

The Chancellor said the Office for Budget Responsibility (OBR) was now predicting a 0.2 per cent surplus in 2018/19, meaning that he could deliver boosts to hardworking families and savers.

But he stressed that he would not loosen the purse strings despite economic growth being revised up, and the Government would keep “”putting Britain right”.

“I can report today that the economy is continuing to recover - and recovering faster than forecast,” Mr Osborne told MPs.

“We set out our plan. And together with the British people, we held our nerve. We’re putting Britain right.

“But the job is farfrom done. Our country still borrows too much. We still don’t invest enough, export enough or save enough.

“So today we do more to put that right. This is a Budget for building a resilient economy.

“If you’re a maker, a doer or a saver, this Budget is for you.”

Mr Osborne added: “It is all part of a long-term economic plan - a plan that is delivering security for the people of this country.

“In 2018/19 we won’t be borrowing at all. We will have a small surplus of almost £5 billion.

“Taken together, these new figures mean Britain will be borrowing £24 billion less than was forecast. That’s more than we spend in an entire year on the police and criminal justice system.

Main points in Budget 2014

Budget 2014 figures at a