Gordon Brown has delivered his 2007 budget speech in the House of Commons. These are the main points.
"Looking to build a Britain of high asipiration"
UK economy is growing faster than all other G7 companies - stronger than the euro area and the US.
Inflation peaked at 4.7% in the US and 3.3% in G7; in the UK, inflation, measured on the same index, has never gone above 3%, has fallen from 3% to 2.8% and will fall further this year to 2%
Looking ahead to 2008-09 - inflation will be on target
Since 1997, inflation has averaged 1.5%, half that of previous decade - Britain's best inflation performance for a century
"We will never return to the old boom and bust"
In the last year investment has grown by 6%, business investment by 7% and inward investment by 10%
Alongside the US, Britain has fastest growing business investment in the G7
THe UK has closed the productivity gap with US and Japan and halved it with France
Growth in 2008 will be highest in G7 - 2.5% to 3%
Balance of current spending and revenues reports a surplus of £11bn in last economic circle - meeting the golden rule
On track in the new cycle to meet the golden rule despite lower levels of production and higher cost in the North Sea which cut revenues from £13-£8bn
Second fiscal rule met - debt kept at a sustainable level. Expected to be 38.2% of national income in 2007/8 and meeting the second fiscal rule through to 2012
Third fiscal rule proposal rejected
"Not the time for a fiscal loosening"
Landfill tax to rise by £8 each year to 2011
Aggregrate levy to rise to £1.95 per tonne
£16m of carbon reductions each year
Lyons report - commercial property lying empty not given such generous business relief
Relief available for empty properties restricted to six months. Special exemption for charities
Transport - UK lead developing low carbon vehicles.
Nicholas Stern and the chancellor of Aston University to report on energy saving potential in transport area
Biofuels duty differential extended to 2010
Biogas incentive extended to 2012
Triple funding for enforcement of haulier companies outside UK acting unfairly
Secure agreements internationally over environment
Competition to be launched for the first British carbon capture storage demonstration
Financial support of £50m for a 10 country initiative in central Africa to prevent rainforest destruction - help 50 million people's livelihoods
Encouraging banks to offer mortgages for immedite captal investment in energy efficiency
Grants of £300 - £4000 available to pensioners to install insulation and central heating
Rise in grants to install micro-generation plants
All new zero carbon homes up to £500,000 exempt from stamp duty
Pushing for European wide decision to reduce rate of VAT to 5% on energy saving home products
Environmental advice and energy audits available to small b usiness through Business Links and the regional development agencies to rise from £140m to £240m
Road tax cut for Band B vehicles from £50 to £35. Duty on "gas guzzlers" to rise from from £220 to £400
Fuel duty to rise 2p a litre - deferred to October
Proposal to tax airline tickets rejected
"UK is equipped for next challenges of the global economy"
Employment risen in last year - 220,000 more people in work - more people in work than major competitors
The next stage is to do more to equip people with new skills for new jobs in decade ahead
Capital investment in schools, hospitals and infrastructure has doubled from £18bn in 1997 to £43bn a year
Will set in place consultation to build a shared national consensus around future priorities
Package of reforms to release resources for priority services - sale of Spectrum and student loan book means asset sales will rise from £18bn to £36bn
Efficiency savings, Savings in administration costs worth £1bn a year by 2010/11, and below inflation spending review settlements for DWP, HMRC etc will release £26bn for front line services
Capital investment in schools, hospitals, security and defence and infrastructure will rise to £48bn in 2008, and then to £52bn, £55bn in 2010, £57bn, and £60bn in subsequent years
Total expenditure to rise to £674bn by 2010
Inteligence and counter-terrorism to recieve an extra £86m
Additional £400m for armed forces
Money available for investment and reform in NHS to rise by £8bn next year, the biggest cash increase ever - 7% increase in real terms. Taking whole of UK, the total additional expenditure from April will be £10bn above last year - a 10% rise in NHS expenditure
To lead in global competition and to secure the UK's place in growth sectors, Britain must champion open market flexibility and free trade.
Further extension to risk based legislation into employment tribunals.
Public investment in science to rise from £5bn in 2007 to £6.3bn by 2010
New £100 million competition challenging universities and businesses to come together to convert scientific breakthroughs into jobs
Capital allowances system to be simplified: two categories based on how long assets will last, more generous relief to long life assets, phase out relief originally intended for industrial buildings, allowances for plant and machinery to be aligned with economic rate of depreciation, value of main R&D tax credit to be increased, scope of environmental capital allowances to be expanded
Annual 100% investment allowance of £50,000 for all new businesses from April 2008
Mainstram corporation tax to be cut from 30% to 28% - lower than the US, Germany, France, Japan
Small companies corporation tax rate to rise in three stages to 22p by 2009 to tackle artificial incorporations"
Small firms can claim new 100% relief for new capital investment up to £50,000, 175% tax credit for R&D and new relief for environmental investments
Alcohol and tobacco duties
Pint of beer to rise by 1p from midnight on 25 March; 1p on a litre of cider; 7p on a bottle of sparkling wine; 5p on a bottle of non-sparking wine; duty on spirits frozen, cigarettes up 11p a packet VAT on nicotine patches and similar products to cut from 17.5% to 5%
New fund worth £80m to help local community organisations.
Consult with charities to increase takeup of Gift Aid
Families and pensions
Extra £1bn a year to raise value of working tax credit
£40 a week in work bonus extended to lone parents, £60 a week in London
Partnership for jobs scheme with companies included Tesco and M&S - people passing work courses will be considered for jobs - help 100,000 people find employment
16-17 year olds who sign learning agreements to receive training wage
Financial assistance scheme extended from £2bn to £8bn - all 120,000 workers who lost work pensions will receive help.
Return of married couples allowance rejected. "would penalise widows and children and wives and husbands left by spouse. Far from rewarding marriage it would exclude 11m married couples in the UK"
Inheritance tax allowance to rise to 350,000 in 2010 - 94% of estates do not pay IHT
Capital Gains Tax allowance doubled for married couples
New shared equity competition to bring homes in reach of first time buyers
ISA tax free allowance to be extended from £3000 to £3600 from April next year
Child benefit for first child to rise by 15% to £20 per week by 2010. Minimum payment to rise to £31 per week
Childline Parentline Plus funding extended
3,500 childrens centres to be funded
Free nursery education to be extended - raised to 15 hours a week.
VAT restrictions on sports facilities to be rtemoved and academies allowed to make sports facilities available to public
Tax free allowance raised for pensioners under and over 75 to rise
Lift 600,000 pensioners out of income tax
Those without pensions raise pensions credit guarantee to £114 to £119, £130 by 2009/10
Top rate income tax rise to £43,000. Align income tax system with NI system - two rates and two thresholds income tax
Invest more in education. Spending in England will rise to £64bn next year, £67bn and then £74bn by 2010. Average rises of 5% cash - one to one tuition for 600,000 children, increased higher education numbers to 1.2m, cash spending per pupil to rise 20% to £6,600. Education rising as share of national income to 5.6% in 2010.
Changing education leaving age will first time make education a right for every young person up to age 18.
"This is a budget for Britain's families, this is a budget for the future"
From April 2008, basic rate of income tax cut from 22p to 20p - lowest basic rate for 75 years.