Budget 2012 in full: As it happened

Key points

  • The top income tax rate will be reduced to 45% from April next year
  • The stamp duty rate on properties worth more than £2m via companies will be raised to 15%
  • Labour leader Ed Miliband says millions of people will be paying more, while millionaires pay less
  • 300,000 people will be drawn into the 40% higher rate tax band from 2013-14
  • The point at which people start paying income tax will be raised to £9,205 from next April
  • Age-related alowances to be removed from new pensioners from 2013

Live text

Reporting:

  • Justin Parkinson 
  • Julian Joyce 

Last updated 22 March 2012

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