BUDGET AT A GLANCE

INCOME TAX

Rise in thresholds being brought forward by a year – helping 32million

Change will save basic-rate taxpayers £130 on average and £860 for higher-rate taxpayers

OTHER TAXES

Business rates slashed by a third for small firms – worth £8,000 a year

New 2 per cent ‘Amazon tax’ on UK revenues of 30 global web giants

New tax on plastic packaging which is not 30 per cent recycled

Beer, cider and spirits duties frozen, while duty on a bottle of wine to rise 8p

Tobacco duty up two percentage points – 33p on a pack of 20 Fuel duty frozen for ninth year in a row

Private-sector contractors deemed to be ‘employees’ must pay National Insurance

PUBLIC SPENDING

Extra £1billion for the Armed Forces

Another £650million for social care and £45million for disability services

One-off fund of £400million to pay for school equipment

A £420million fund to help councils fill in potholes

Billions more for the NHS to tackle mental health and fund a new ten-year plan

Private Finance Initiative contracts to be abolished

BENEFITS AND HOUSING

Extra £6.6billion ploughed into Universal Credit welfare scheme

National Living Wage up 4.9 per cent to £8.21 an hour from April 2019

First-time buyers purchasing shared equity homes of up to £500,000 to be exempt from stamp duty

Another £500million for the Housing Infrastructure Fund to enable a further 650,000 homes to be built

Lettings relief limited to properties where the owner is in shared occupancy

ECONOMY AND BREXIT

Austerity finally ‘coming to an end’, Philip Hammond pledges with almost £100billion of spending commitments

Some 800,000 more jobs forecast by 2022, with wages growth highest in a decade

Borrowing as a share of GDP to rise next year, but debt as a share of GDP will continue to fall

Growth forecasts for the next five years upgraded but still sluggish

Extra £500million for preparations for leaving the EU