The Chancellor rose at 3:32pm.
Growth forecast for 2001 to be between 2.25% and 2.75%.
Inflation forecast for March 2002 to be 2.25%.
Budget is in surplus of £23bn this year.
Debt repayment will be £34bn this year.
Tax relief on intellectual property and goodwill proposed. Small firms to pay no VAT.
Consideration of research and development tax credit for large companies.
Long-term Capital Gains Tax will be lowered from 40p to 10p for all employees.
Enterprise Management Incentive scheme extended.
New VAT scheme for small firms.
Annual company reports to be the basis for tax calculation from now on.
Stamp duty will be abolished in designated areas.
£1bn package to speed up urban regeneration.
Film industry tax scheme extended to 2005.
Lone parents with children under 5 compelled to take interviews about employment options.
Training tax credit for employers to be considered.
Working Families Tax Credit to rise by £5 per week, making minimum pay £6.40 per hour from June.
Minimum wage to be increased to £4.10 per hour from £3.70.
Car tax frozen. Confirmation of £55 reduction in car tax discs for vehicles under 1500cc.
Maximum childcare allowance under Childcare Tax Credit Allowance up from £100 to £135.
Reform to lorry and tractor tax discs.
Confirmation of 2p a litre reduction in petrol tax and 3p reduction in diesel tax from 6pm tonight.
Road fuel tax cut by 6p per kilogram.
Duty on spirits, wine and beer frozen.
From Jan 1 betting duty abolished.
No rise in cigarette tax beyond standard 6p a packet annual rise.
Bookmakers gross profits will be taxed at 15%.
Disabled Person’s Tax Credit will go up by £5 per week from June.
£200m employment package for over 25s.
New Children’s Tax Credit to be introduced at £10 per week for people earning up to £50,000 per year and for families with new-born children.
Maternity pay increased to £60 to £75 next year and £100 the year after. Statutory obligation to maternity pay will be increased from 18 to 26 weeks per year.
Two weeks paternity pay to be introduced next year at £100 per week.
£200m to be allocated to an anti-drugs campaign over five years.
Winter allowance retained.
Pensioners Tax Credit to rise in line with earnings from 2003.
The 10p band of income tax is to be extended from the first £1,500 to £1,880 taxable income.
Public spending to be increased by £2bn.
New £200m fund for extra teachers. Education spending set to rise by 5.2% a year after inflation.
Cash spending on NHS rising by 50% over 5 years. From April acute hospital trusts will receive between 0.5m and 1m extra funds.
The Chancellor sits down at 4.24pm
