Economy
UK grew 2.6% in 2014, faster than any other advanced economy but lower than 3% predicted in December
2.5% growth forecast in 2015, up from 2.4% predicted in December, followed by 2.3%, 2.3%, 2.3% and 2.4% in the next four years
Alcohol, tobacco and gambling
Beer duty cut by 1p, cider by 2%, whisky by 2%. Wine duty frozen
Tobacco and gaming taxes to remain unchanged
Business
Tax on ‘diverted profits’ to come into effect next month, taxes multinational profits ‘artificially moved offshore’
Annual bank levy to rise to 0.21%, raising an extra £900m
Supplementary charge on North Sea oil producers to be cut from 30% to 20% while petroleum revenue tax to fall from 50% to 30%
New tax allowance to encourage investment in North Sea
Adult, youth and apprentice minimum wage rates to rise
Farmers to be allowed to average incomes for tax purposes over five years
Consultation on tax relief for local newspapers
Infrastructure/transport/regions
New rail franchise for South West
Some tolls on Severn crossings to be scrapped from 2018
