The Chancellor has presented his Budget to Parliament – here's a summary of what was announced.
1. The economic forecast: UK economy will grow by 2% in 2017. The OBR also forecast that the economy will grow at a slightly slower rate in 2018, before picking up to 2% in 2021.
2. Cutting borrowing and stabilising the public finances: Britain has a debt of nearly £1.7 trillion – around £62,000 for every household in the country. Borrowing is forecast to be reduced by nearly three quarters by 2016-17.
3. £2 billion for adult social care over the next three years: This will help councils to provide high quality social care to more people and help to ease pressure on the NHS.
4. £425 million investment in the NHS in the next three years
5. Investment in technical education for 16 to 19 year olds rising to over £500 million
6. £300 million investment for new academic research placements
7. Loans for part time and doctoral students from 2018
8. £536 million for new free schools and to maintain existing schools
9. Free transport for children from poorer families who go to selective schools
10. Tax-Free Childcare will soon be available to working parents
11. New ways to protect consumer from un necessary costs and inefficiencies.
12. £270 million to launch the Industrial Strategy Challenge Fund
13. Improving transport with the National Productivity Investment Fund
14. A new strategy to make the UK a world leader in 5G technology
15. A three-year NS&amp;I Investment Bond with a market-leading interest rate of 2.2% The bond will be available for 12 months from April 2017.
16. The Lifetime ISA will be available from 6 April this year
17. Marking International Women’s Day: A new £5 million fund will go to projects celebrating the 100th anniversary of the Representation of the People Act
18. Small Businesses and landlords under the VAT threshold will have an extra year to prepare for Making Tax Digital (MTD)
19. £435 million to support businesses affected by the business rates relief revaluation
20. The main rate of National Insurance contributions (NICs) for the self-employed will increase
From 2018, Class 2 NICs will be abolished. Class 4 NICs will rise to 10% in April 2018 and to 11% in April 2019. Taken together, only a self-employed person with profits over £16,250 will have to pay more as a result of these changes.
21. Tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018.

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