TODAY'S BUDGET

1322 Mr Darling has stopped speaking - the speech lasted approximately 50 minutes.

1322 The total annual limit for ISAs will increase to 10,200.

1321 The winter fuel allowance will be maintained at a higher level for the coming year.

1319 Grandparents looking after grandchildren will, for the first time - where they are of working age - have their efforts acknowledged in the state pension, Mr Darling says.

1318 From April next year the child element of the child tax credit will increase by 20, the chancellor says.

1317 The chancellor promises 405m to advance green manufacturing.

1315 Mr Darling says he will announce plans later to reduce UK carbon emissions by 34% by 2020.

1312 Mr Darling announces the setting up of a 750m investment fund for emerging technologies.

1311 Mr Darling says strengthening the banking system is crucial to the economy. He adds that construction firms will get 500m of extra finance to help them borrow to build more homes. Armed forces accommodation will get 50m to accelerate improvements.

1305 The government will make savings while increasing spending on schools and healthcare, Mr Darling says.

1302 A 50% income tax rate for those earning 150,000 or more a year will come in from April next year.

1300 The chancellor says pensions tax relief will be restricted for those earning more than 100,000 a year.

1259 The Budget deficit is expected to halve in the next four years, he says.

1258 Government borrowing will be 175bn this year, some 12.4% of GDP, the chancellor says.

1255 The recession has hit tax revenues, Mr Darling says. Tax as a share of GDP is 1.2% lower than last year as a result, he adds.

1254 There will be a 2,000 discount from next month on cars bought where the owner scraps another car more than 10 years old.

I assume that the 2,000 discount for cars is restricted per household otherwise I'm off to buy 100 old bangers for a few quid and then reap in the 2,000 each to start a new car sales business :o)

End-of-day Market Overview

Link to Budget 2009 Budget Report April 2009