Budget 2014: Summary of all the highlights

 

Budget Day began with the announcement of a new, 'edgier' £1 coin.

But for families, pensioners and businesses across the country, the devil of George Osborne's changes today was, inevitably, in the detail.

The headline news was a boost for savers and pensioners.

Cash and shares Isas will be combined into a single new Isa with annual tax-free savings limit of 315,000 from 1 July. The 10p tax rate for savers was also scrapped.

For pensioners, all tax restrictions on access to pension pots was removed meaning pensioners do not have to buy an annuity. The tax on money taken out of a pot will be lowered to 20% from 55%.

And as for energy bills, booze and cigarettes, beer duty was cut by 1p, there was a duty freeze on cider and the planned September fuel duty rise has been cancelled.

Tobacco duty, however, will rise by 2% above inflation.

But as for the announcements that might fly under the radar, below is a summary of all the little titbits from the Budget – and how they are likely to affect you.

Read more:
Budget 2014: At a glance
A speech for savers, pensioners, drinkers – and floating Tory voters
what a progressive budget could have been
Good news for savers and pensioners – if they're rich enough
Miliband sees a ‘classic Tory con’ that helps only the elite
Pensions and savings: Osborne unveils radical reform
What does it mean for savers and pensioners?
Comment: the changes to pensions are revolutionary
A booming economy? Not in Britain’s capital of joblessness
Another George Osborne is less than impressed
Six Britons on whether they'll be better or worse off
Shapps brings the house down with bingo and beer tweet
The 'precarious' nature of an independent Scotland’s finances
£1 coin: New coin will be 12-sided version
£1 coin: Vending machines and phone boxes to be hit
housebuilding: Garden cities at heart of 200,000 new homes
The Deficit: Osborne warns of long-haul to close gap
Multimillion-pound cash injection for British science
Air Passenger Duty: Reforms welcomes by airlines
Gambling: controversy over fixed-odds betting terminals
Stamp duty: Clampdown hits the wealthy
Theatre: Tax relief for regional productions
Business: Taxes on investment to be cut
CBI applauds boost to growth as tax breaks encourage investment
High street given £750m injection through rate relief
Battering for bookies  but a win for bingo halls
Energy bills: Manufacturers and households to get £7bn help
Pensions shake-up sees life insurers' shares dive
Exports: Help doubled to £3bn
Tax avoidance: pay the outstanding now, appeal later
Reality is that Osborne still needs us to spend cash, not save it
A good day to bury bad news
What George Osborne said... and what he meant
Who wins and who loses?
Comment: The Chancellor's mind is on politics as well as economics
Comment: To raise living standards we must increase productivity
Comment: There were still a couple of devious moves
Comment: Sharing proceeds of growth with businesses
Comment: A sign of recovery? Most people don't feel it
Sketch: It wasn’t music hall but the audience was entertained
Start your day with The Independent, sign up for daily news emails
Arts and Entertainment
Lou Reed distorted the truth about his upbringing, and since his death in 2013, biographers and memoirists have added to the myths
musicThe truth about Lou Reed's upbringing beyond the biographers' and memoirists' myths
News
people
News
Ed Miliband received a warm welcome in Chester
election 2015
Life and Style
Apple CEO Tim Cook announces the Apple Watch during an Apple special even
fashionIs the Apple Watch for you? Well, it depends if you want it for the fitness tech, or for the style
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Project Implementation Executive

£18000 - £23000 per annum: Recruitment Genius: They work with major vehicle ma...

Recruitment Genius: Chiropractic Assistant

£16500 per annum: Recruitment Genius: A Chiropractic Assistant is needed in a ...

Recruitment Genius: Digital Account Executive - Midlands

£18000 - £26000 per annum: Recruitment Genius: They work with major vehicle ma...

Recruitment Genius: Web Developer

£28000 - £30000 per annum: Recruitment Genius: This company provides coaching ...

Day In a Page

Armenian genocide: To continue to deny the truth of this mass human cruelty is close to a criminal lie

Armenian genocide and the 'good Turks'

To continue to deny the truth of this mass human cruelty is close to a criminal lie
Lou Reed: The truth about the singer's upbringing beyond the biographers' and memoirists' myths

'Lou needed care, but what he got was ECT'

The truth about the singer's upbringing beyond
Migrant boat disaster: This human tragedy has been brewing for four years and EU states can't say they were not warned

This human tragedy has been brewing for years

EU states can't say they were not warned
Women's sportswear: From tackling a marathon to a jog in the park, the right kit can help

Women's sportswear

From tackling a marathon to a jog in the park, the right kit can help
Hillary Clinton's outfits will be as important as her policies in her presidential bid

Clinton's clothes

Like it or not, her outfits will be as important as her policies
NHS struggling to monitor the safety and efficacy of its services outsourced to private providers

Who's monitoring the outsourced NHS services?

A report finds that private firms are not being properly assessed for their quality of care
Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

Zac Goldsmith: 'I'll trigger a by-election over Heathrow'

The Tory MP said he did not want to stand again unless his party's manifesto ruled out a third runway. But he's doing so. Watch this space
How do Greek voters feel about Syriza's backtracking on its anti-austerity pledge?

How do Greeks feel about Syriza?

Five voters from different backgrounds tell us what they expect from Syriza's charismatic leader Alexis Tsipras
From Iraq to Libya and Syria: The wars that come back to haunt us

The wars that come back to haunt us

David Cameron should not escape blame for his role in conflicts that are still raging, argues Patrick Cockburn
Sam Baker and Lauren Laverne: Too busy to surf? Head to The Pool

Too busy to surf? Head to The Pool

A new website is trying to declutter the internet to help busy women. Holly Williams meets the founders
Heston Blumenthal to cook up a spice odyssey for British astronaut manning the International Space Station

UK's Major Tum to blast off on a spice odyssey

Nothing but the best for British astronaut as chef Heston Blumenthal cooks up his rations
John Harrison's 'longitude' clock sets new record - 300 years on

‘Longitude’ clock sets new record - 300 years on

Greenwich horologists celebrate as it keeps to within a second of real time over a 100-day test
Fears in the US of being outgunned in the vital propaganda wars by Russia, China - and even Isis - have prompted a rethink on overseas broadcasters

Let the propaganda wars begin - again

'Accurate, objective, comprehensive': that was Voice of America's creed, but now its masters want it to promote US policy, reports Rupert Cornwell
Why Japan's incredible long-distance runners will never win the London Marathon

Japan's incredible long-distance runners

Every year, Japanese long-distance runners post some of the world's fastest times – yet, come next weekend, not a single elite competitor from the country will be at the London Marathon
Why does Tom Drury remain the greatest writer you've never heard of?

Tom Drury: The quiet American

His debut was considered one of the finest novels of the past 50 years, and he is every bit the equal of his contemporaries, Jonathan Franzen, Dave Eggers and David Foster Wallace