Key points of the budget 2017 – at a glance
The chancellor, Philip Hammond, has delivered the budget. These are the key points, with political analysis
Rowena Mason, deputy political editor: Philip Hammond looks satisfied to be announcing higher growth than previously forecast - a rare experience for chancellors in recent years. It defies the predictions of gloom by remain supporters before the Brexit vote, although the effects of leaving the EU are yet to be felt.
RM: Again, Hammond is able to deliver better news than previously forecast on borrowing. He stresses that this will not be used as a reason to spend more, signalling there will be no easing off on austerity. The chancellor moves on to a few digs at the opposition for 'recklessly' wanting to borrow more, carrying on George Osborne's strategy of trying to paint Labour as fiscally irresponsible.
RM: Hammond says this is a sign he is listening to the voice of business, unlike Labour, and shoehorns in a joke about the 'last Labour government' of Blair and Brown being called that for a reason.
RM: Inevitably, Hammond has had to take action to calm down the backlash against changes to business rates, given the outcry among Conservative MPs, small companies and the rightwing press. Cheers from the Tory benches suggest they will be satisfied by the concessions.
RM: Crackdowns on tax avoidance have become a budget staple to boost the exchequer's coffers. This is another attempt to stop unfairness in the tax system, with added penalties on accountants who help people to try to dodge their liabilities.
RM: Hammond has had to go into a very lengthy explanation justifying this on the grounds of improving fairness in tax levels between the employed and self-employed. This has the potential to be controversial with some traditional Conservative supporters, who are likely to see it as an assault on entrepreneurialism and an unwanted rise in a personal tax.
RM: This is another change that may annoy traditional Conservatives, but will please those who have long thought it unfair that shareholders can gain tax advantages by taking earnings through dividends rather than a salary.
RM: The traditional 'sin taxes' on booze and cigarettes are not rising, but a new one is being introduced in the form of the sugar tax. It is one of the few flagship policies of David Cameron continued by May.
RM: This is merely confirmation of what Hammond said in last November's autumn statement. It is a rise, but not enough to meet the target of 9 an hour by 2020 on its current trajectory.
RM: This is a continuation of the Conservative-Liberal Democrat coalition government's trend of raising the personal allowance to reduce income tax paid for all but the very highest earners. Originally it was taking the very lowest paid out of tax altogether, but critics argue that a better way to do that now would be to raise the national insurance threshold instead, bringing it in line with the income tax threshold.
RM: This is simply confirmation of an autumn statement measure, which appears to be a bit of filler in the speech rather than a new announcement.
RM: Hammond's announcement prompted a lighthearted dig at May for already announcing two out of the three measures on Mumsnet on Tuesday night. She managed a bit of banter in return, retorting: "It is International Women's Day."
RM: This is as expected, with few details in the speech, with the government once again channelling Ed Miliband, who hit out at 'rip-off Britain' in the previous parliament.
RM: A big theme of the Treasury under Hammond has been improving training opportunities in science and technology. The sums involved are not huge, but Hammond has repeatedly signalled there will be few big giveaways in this budget.
RM: This measure was widely trailed in Tuesday's papers, with a focus on May's decision to allow the new free schools to be selective grammar schools. It will be fiercely opposed by Labour and the other opposition parties.
RM: This was also widely trailed by the Treasury as part of its focus on increasing the status of technical education.
RM: This is a development of George Osborne's 'northern powerhouse' strategy attempting to spread prosperity beyond the south-east. May has slightly shifted the focus to make sure all regions are targeted with an active industrial policy and the Midlands engine appears to be the latest plank of this plan.
RM: May has placed a huge emphasis on keeping the union together. The sums involved are sizeable, but hardly a gamechanger to quell the clamour for a second independence referendum among SNP supporters.
RM: This is a fairly dramatic climbdown for Hammond, who was severely criticised after the autumn statement for barely mentioning the NHS or social care crisis. In the ensuing debate, he repeatedly insisted there was no need for a bailout of the social care system. But the pressure from Tory councils, NHS chiefs and backbenchers has obviously proved too great.
RM: The 100m injection into the NHS is a small amount compared with what medical chiefs say is needed. However, allocating money for a specific reform fits with No 10's strategy of asking the health service to work more efficiently.
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