Budget 2015 as it happened: Osborne scraps maintenance grants for poorest students and caps public sector pay rises to 1 per cent

Other measures include offloading the cost of the licence fee, relaxing sunday trading laws, and making welfare cuts

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OBR says new Living Wage will cost 60,000 jobs

Chart that shows Living Wage is political spin

The most radical Budget in years

Maintenance grants for students to be scrapped

● Working age benefits frozen for 4 years

● Higher rate tax threshold raise to £43,000

● Corporation tax cut cut to 18% in 2020

Osborne family '£6m tax have property deal'
 

 

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The Conservative manifesto pledged to cut the tax by raising the threshold. It is currently paid by those on incomes of over £42,385.

The Daily Telegraph says the threshold rise will save higher earners as much as £1,300 a year.

George Osborne had originally announced plans to raise the threshold by the end of the Parliament but appears to be bringing forward his policy.

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