Our breakdown of how Osborne’s budget will affect housing, wages and welfare.
Housing
- Stamp duty will increase to 15 per cent for properties over £500,000 bought by corporations
- £150m for home builders in new ‘right to build scheme’
- Help to Buy scheme will be extended to 2020 and focused on new builds
Wages
- No income tax for first £10,500 of earning
- The increase in tax-free allowance will begin in April 2015
Welfare
- Welfare will be capped at £119bn for 2015/16 will rise in line with inflation to £127bn for 2018/19
- The cap does not state pension or Jobseeker’s Allowance
