Media playback is unsupported on your device

Budget 2014: Savings, pension and tax changes explained

19 March 2014 Last updated at 19:44 GMT

Changes to savings, pensions and the personal tax allowance have been unveiled in George Osborne's latest Budget.

The amount that can be saved tax-free in Isas is to rise, as is the level at which workers are required to pay income tax.

Pensioners will also get a higher interest savings option and will no longer have to use their pension pot to buy annuities.

The BBC's chief economics correspondent Hugh Pym reports.

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.