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

Hazel Sheffield
Wednesday 08 July 2015 17:22
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Chancellor of the Exchequer George Osborne delivers his Budget statement to the House of Commons
Chancellor of the Exchequer George Osborne delivers his Budget statement to the House of Commons

Here are the latest updates:

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.

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