The Chancellor rose at 3:31pm.
Budget is in surplus of £17 billion this year.
Capital gains tax from 6 April will be cut from 40% to 35% after one year, to 30% after two years, 20% after three years and 10% after four years.
Inheritance Tax threshold will be raised to £234,000; 96% of people will be exempt.
40% capital allowance for small and medium sized businesses becomes permanent.
Tax reduction for small businesses investing in technology – ecommerce, internet.
Incentives for electronic filing of tax and VAT returns.
Target of £1 billion for regional economic development.
From 1 April long-term unemployed given job grant of £100.
New Deal extended for lone parents with children under five.
More ticket sales for charity events to be VAT exempt.
Pensioners tax allowance will be increased to £5,790.
Pensioners savings limit rises from £3,000 to £6,000 for those on income support.
Winter fuel allowance up from £100 to £150.
Banks invited to work with Post Office to offer banking service for all.
ISA limit to remain at £7,000 for one more year.
Petrol to rise by 2p per litre in line with inflation.
Car tax disc frozen until March 2001. Tax disc cut for large lorries.
Stamp duty on property sales will be raised to 3% for properties valued £250,000 to £500,000.
Duty on spirits frozen. Beer and wine will rise in line with inflation – 1p per pint on beer.
Cigarettes will rise by 5% above inflation, or 25p per packet.
Investment of £280 million for transport. £285 million for fighting crime. £1 billion for education.
Income tax from 6 April: base rate cut from 23p to 22p in the pound.
For the next four years the NHS is allocated investment growth of 6.1% per year over inflation.
This year this NHS will be given £4.9 billion more than initially intended.
The Chancellor sat down at 4:21pm.
