:00:00. > :00:00.in Cheltenham three years after a hard problem threatened to end his
:00:00. > :00:13.racing days. -- after a heart problem.
:00:14. > :00:17.Against a backdrop of slowing economic growth, falling
:00:18. > :00:21.productivity and weaker public finances the Chancellor,
:00:22. > :00:24.George Osborne, has delivered his eighth Budget.
:00:25. > :00:26.He unveiled a series of giveaways to small firms,
:00:27. > :00:30.And he produced an eye-catching measure - to tackle levels
:00:31. > :00:34.of obesity among children and young people.
:00:35. > :00:37.But the big picture was dominated by the latest forecasts on economic
:00:38. > :00:44.But Mr Osborne says Britain is still ahead of other major economies.
:00:45. > :00:46.There were changes on personal taxes.
:00:47. > :00:48.From next April people will start paying income tax
:00:49. > :00:54.And that eye-catching measure - a new levy on sugary drinks,
:00:55. > :00:59.expected to raise around ?500 million a year.
:01:00. > :01:02.More on that in a moment, but first our political editor
:01:03. > :01:11.Laura Kuenssberg reports on the Budget speech.
:01:12. > :01:16.REPORTER: Where the sunshine, Chancellor?
:01:17. > :01:21.Hold your nose, the contents of the box say we are all less well off
:01:22. > :01:25.than we thought. Hold your nose, he has decided to keep cutting spending
:01:26. > :01:30.four years to come. Hold your nose, the son that he
:01:31. > :01:37.promised is absolutely behind the clouds. The Chancellor of the
:01:38. > :01:41.Exchequer. Financial markets are turbulent,
:01:42. > :01:46.productivity growth across the West is too low, and the outlook for the
:01:47. > :01:50.global economy is weak. It makes for a dangerous cocktail of risks.
:01:51. > :01:55.The economy is in better shape than rivals but growth is slowing down,
:01:56. > :01:59.so the Government will borrow billions more than planned. By 2020,
:02:00. > :02:03.to stick to George Osborne's rule, the books should be back in the
:02:04. > :02:07.black in surplus. Not everyone believes he will head
:02:08. > :02:13.that political target but his back ventures were happy to cheer it
:02:14. > :02:17.today. But, listen... Five-year-old
:02:18. > :02:21.children are consuming their body weight in sugar every year. MPs
:02:22. > :02:27.shushed each other and grew quieter and quieter. To hear Mr Osborne's
:02:28. > :02:32.big surprise. I'm not prepared to look back at my time in this
:02:33. > :02:35.Parliament, doing this job and say to my children's generation, I'm
:02:36. > :02:40.sorry, we knew there was a problem with sugary drinks, we knew it cause
:02:41. > :02:44.disease but we ducked the difficult visions and did nothing. So today I
:02:45. > :02:49.will announce that we will introduce a new sugar levy on the soft rings
:02:50. > :02:53.industry. One of the country's best-known campaigners for the sugar
:02:54. > :02:59.tax bed to Westminster. Jamie Oliver, delighted, could scarcely
:03:00. > :03:03.believe it. I am happy. In terms of the visuals any Chancellor would
:03:04. > :03:08.want, this counts as a result. But the sugar tax should not distract
:03:09. > :03:13.from bold redrawing in this budget, a totally new kind of saving for
:03:14. > :03:17.old-age, big changes to business taxes and a freeze on fuel duty. As
:03:18. > :03:21.ever, it is only when the Budget gets picked over, that the big
:03:22. > :03:27.picture becomes clear. There are big changes to tax and
:03:28. > :03:32.spend. ?3.5 billion of extra costs, lower Corporation Tax business
:03:33. > :03:35.profits and, by the next election, high income tax thresholds so
:03:36. > :03:40.millions of workers pay less tax. That is one way to please those
:03:41. > :03:45.grumpy Tory MPs. A typical basic rate tax payer will pay over ?1000
:03:46. > :03:51.less income tax than when we came into Government five years ago, and
:03:52. > :03:55.another 1.3 million of the lowest paid are out of tax altogether.
:03:56. > :04:00.Social justice delivered by Conservative means.
:04:01. > :04:05.The vice he needs those supportive voices, because right now the Tories
:04:06. > :04:11.are vying with each other to get you on their side in the referendum. And
:04:12. > :04:14.some are peeved because he used evidence from the neutral Office for
:04:15. > :04:20.Budget Responsibility to back his case for staying in. Britain will be
:04:21. > :04:24.stronger, safer and better off inside a reformed EU, and I believe
:04:25. > :04:28.we should not put at risk all the hard work done by the British people
:04:29. > :04:34.to make the economy strong again. There it was, his main claim, that
:04:35. > :04:40.as Chancellor he truly has the whole country's interest that hard. This
:04:41. > :04:45.Budget gets investors investing, savers saving, businesses doing
:04:46. > :04:49.business so that we build for working people a low tax enterprise
:04:50. > :04:54.Britain, secure at home, strong in the world, I commend to the House a
:04:55. > :05:02.Budget that puts the next-generation first. A total -- in total contrast
:05:03. > :05:08.to the colleagues' congratulations, the Labour leader was having none of
:05:09. > :05:12.it. Failed on the Budget, debt, investment, productivity, trade
:05:13. > :05:18.deficit, the welfare cup, failed to tackle inequality in this country.
:05:19. > :05:23.Flagging the most sensitive and biggest cut of all, lower payments
:05:24. > :05:27.to some people with disabilities, accusing Mr Osborne of trying to
:05:28. > :05:33.balance the books on the backs of the most vulnerable. Half a million
:05:34. > :05:38.people with disabilities are losing over ?1 billion in personal
:05:39. > :05:43.independence payment, Corporation Tax has been cut and billions handed
:05:44. > :05:47.out in tax cuts to the very wealthy. There were plenty of other
:05:48. > :05:52.opposition politicians queueing up to condemn the Budget. What it
:05:53. > :05:57.really does is confirm the failure of George Osborne. Deficit,
:05:58. > :06:01.borrowing, everything pushed back, the so-called long-term plan was
:06:02. > :06:06.not, abject failure from start to finish. In many ways, the Chancellor
:06:07. > :06:09.is making it more likely we will have another recession, rather than
:06:10. > :06:13.giving the resilience that we need for the long-term. Less than six
:06:14. > :06:18.months ago, George Osborne was lucky with the numbers. But luck is on the
:06:19. > :06:20.way out. But his carefully crafted ambitions, don't doubt there are
:06:21. > :06:22.plenty of them still hanging around. As we heard, the prospects
:06:23. > :06:24.for economic growth are rather less encouraging than they were
:06:25. > :06:27.just a few months ago. Mr Osborne in effect blamed
:06:28. > :06:30.the global economic situation for the changed forecasts on growth,
:06:31. > :06:33.debt and productivity, and he warned of 'storm
:06:34. > :06:35.clouds gathering again'. Our economics editor Kamal Ahmed
:06:36. > :06:52.is here with his take Thanks. Today the Chancellor had a
:06:53. > :06:56.tricky hand to play than he expected four short months ago. He disguised
:06:57. > :07:01.some of it with eye-catching policy announcements like the sugar tax,
:07:02. > :07:04.that he knows that the economic fundamentals are looking less
:07:05. > :07:07.healthy. And that there is one major reason for that, it is about the way
:07:08. > :07:16.we work. George Osborne likes to talk about a
:07:17. > :07:22.cocktail of dangers facing Britain. A cooling global economy, a slowdown
:07:23. > :07:27.in China, throw in a collapse in the oil price and it can seem a toxic
:07:28. > :07:31.mix. The effect, economic growth is slowing. Last year the forecasted
:07:32. > :07:37.growth rate was 2.4%. That number was downgraded to date to 2%. The
:07:38. > :07:42.Government's economic watchdog put that largely down to the issue of
:07:43. > :07:47.productivity, the amount of output each worker produces per hour. If
:07:48. > :07:51.that is not going up as fast as hoped, earnings will not go up as
:07:52. > :07:55.fast as hoped, the economy will not grow as fast, tax revenues will not
:07:56. > :08:00.come in. That is the big change and what we ought to be talking about
:08:01. > :08:03.more than anything, it really, really matters not just for the
:08:04. > :08:07.Chancellor but for how well off we all are. How does the Chancellor
:08:08. > :08:13.proposed to deal with the problem of lower growth and still produce a
:08:14. > :08:18.Budget surplus by 2020, a fiscal rule committee claims, he won't
:08:19. > :08:22.break. This graph shows the Government will borrow more over the
:08:23. > :08:28.next four years. With that amount of borrowing higher than expected and
:08:29. > :08:35.falling more slowly. That borrowing figure, the Treasury predicts, will
:08:36. > :08:39.still turn despite all the economic gloom into a ?10.4 billion surplus
:08:40. > :08:46.the following year, just in time for the election. Reaching the target
:08:47. > :08:51.will be harder given that Mr Osborne NL 's and giveaways, and they cost
:08:52. > :08:55.money. Here are some of the biggest ones, increasing the income tax
:08:56. > :09:00.thresholds, except in Scotland, will cost ?2.5 billion. Cutting small
:09:01. > :09:09.business rates will cost ?1.4 billion.
:09:10. > :09:13.Giveaways to begin with and takeaways in 2019/20 and the years
:09:14. > :09:16.after, those are the years for which the Government has the target to
:09:17. > :09:22.achieve a budget surplus. We really have quite a big squeeze taking
:09:23. > :09:27.place in 2019/28 cell. Now that big squeeze is how Mr
:09:28. > :09:32.Osborne proposes to hit that surplus by 2020, introducing a raft of
:09:33. > :09:42.revenue raising measures. He proposes to find ?3.5 billion in
:09:43. > :09:46.efficiency savings from Government departments and disability benefits
:09:47. > :09:51.cuts will save another ?1.3 billion. And then there is a very big ticket
:09:52. > :09:57.item, the majority of corporation tax changes will kick in that year,
:09:58. > :10:04.leaving larger businesses with a tax bill of ?7.9 billion.
:10:05. > :10:08.That is quite a cocktail, and the financial watchdog says there is
:10:09. > :10:14.only a 55% chance of the Treasury even hitting the target.
:10:15. > :10:18.Last year George Osborne had three rules on the economy, he would cap
:10:19. > :10:24.the welfare budget, a rule abandoned last year, he would bring down debt
:10:25. > :10:31.as a share of national income, a rule broken today. He has one left,
:10:32. > :10:35.producing a Budget surplus by 2020. And it seems he is prepared to tax
:10:36. > :10:43.more and cut more to achieve that. Even if there was some scepticism
:10:44. > :10:45.that he will ever get there. Thank you, we will talk to you later,
:10:46. > :10:46.Kamal Ahmed. The biggest Budget surprise for many
:10:47. > :10:49.was the Chancellor's decision to impose a new levy
:10:50. > :10:51.on sugary drinks. There will be two bands -
:10:52. > :10:54.one for drinks with above 5 grams of sugar per 100 millilitres,
:10:55. > :10:56.including some cordials and flavoured waters,
:10:57. > :10:58.and a second band for those Most colas will fall
:10:59. > :11:03.into this category. If the manufacturers pass
:11:04. > :11:06.on the cost to the consumer it could add between 18 and 24
:11:07. > :11:08.pence to a litre bottle, as our health editor
:11:09. > :11:13.Hugh Pym explains. It was a big surprise and it
:11:14. > :11:17.could hit many people's pockets. Today these shoppers were working
:11:18. > :11:20.out what the new levy adding possibly 80% to the price of a large
:11:21. > :11:23.unbranded bottle of cola might It will stop the kids from keeping
:11:24. > :11:35.on going to the shops, keep on buying all the fizzy
:11:36. > :11:38.drinks all the time. The cost to the NHS
:11:39. > :11:40.and the dentist all the time. At the end of the day they're
:11:41. > :11:44.enjoyable but they are bad, so... Some well-known campaigners
:11:45. > :11:46.on the issue were hurrying No-one likes tax, right,
:11:47. > :11:53.but this is a tax for good. This is a tax that will have
:11:54. > :11:58.ripples across the world. Canada, Australia, New Zealand,
:11:59. > :12:00.pull your finger out, It is about the balance between
:12:01. > :12:09.business and society and health. Excluding milk-based sugary drinks
:12:10. > :12:13.it's likely to be passed The industry argues such a move
:12:14. > :12:21.is not the way to tackle obesity. I think it's very unfair and ironic
:12:22. > :12:23.almost that the soft drink manufacturers, who've been
:12:24. > :12:28.in the vanguard of reformulation, of making their products more widely
:12:29. > :12:31.available with great choice, should be the ones penalised
:12:32. > :12:38.through this measure. The Chancellor says the proceeds
:12:39. > :12:40.will be spent on school It is up to Scotland,
:12:41. > :12:44.Wales and Northern Ireland how The move comes at a time
:12:45. > :12:48.of increasing concern about obesity There is already a strain on the NHS
:12:49. > :12:56.and problems often develop About 10% of four and five-year-olds
:12:57. > :13:01.in England starting off at school By the age of 10 and 11 that
:13:02. > :13:08.figure has gone up to 19%. When it comes to adults,
:13:09. > :13:12.25% are obese. Treating conditions linked
:13:13. > :13:15.to obesity cost the NHS in England ?5.1 billion in the
:13:16. > :13:19.last financial year. To put that into perspective,
:13:20. > :13:22.the cost of treating smoking-related diseases, including lung
:13:23. > :13:26.cancer, cost ?3.9 billion. All of that came out of a total
:13:27. > :13:30.health Budget of ?113 billion The levy will raise just
:13:31. > :13:38.?500 million a year. Even so, the head of NHS England
:13:39. > :13:41.says it will help improve children's health and he says it's just one
:13:42. > :13:44.of a series of measures to be It's part of a much broader
:13:45. > :13:51.comprehensive strategy that we need, but also we'll have to take account
:13:52. > :13:53.of promotions and advertising Together, we think that these
:13:54. > :14:00.measures will substantially tackle the problem that we've got
:14:01. > :14:07.of childhood obesity. Health campaigners hope this
:14:08. > :14:11.is a game-changing moment, but there's a lot of detail
:14:12. > :14:14.still to be worked out and there'll be intense debate about how the levy
:14:15. > :14:16.will be implemented. Today's Budget did contain a wave
:14:17. > :14:25.of measures aimed at business - giving more help to small firms,
:14:26. > :14:29.especially on business rates, but asking big companies to make do
:14:30. > :14:33.without some of the tax breaks that Our business editor Simon Jack has
:14:34. > :14:49.been looking at the likely impact. The Chancellor served up some good
:14:50. > :14:52.news for business underdogs today. Small businesses like this cafe in
:14:53. > :14:57.Sunderland were licking their lips at the prospect of saving real money
:14:58. > :15:02.from a cut to the burden of business rates. Hundreds of thousands of
:15:03. > :15:06.small companies in England will pay no business rate, permanently. We
:15:07. > :15:10.are over the moon, actually, one of the best things I have heard from
:15:11. > :15:14.the Budget is the increase in small business rate relief which,
:15:15. > :15:18.hopefully, for a business like ours, will take us out of paying rates
:15:19. > :15:22.altogether. Some will go toward staff wages, we might take another
:15:23. > :15:27.apprentice. There is no such thing as a free lunch, and the ?7 million
:15:28. > :15:32.boost to small business will be paid for by a ?9 billion raid on fat cat.
:15:33. > :15:37.But until now, big firms and multinationals have been able to
:15:38. > :15:41.reduce the fat Democrat tax they pay by taking off borrowing costs from
:15:42. > :15:46.their profits. The amount of profit they can drink this way will be
:15:47. > :15:50.limited. Some sectors use a lot of debt financing, and this limited
:15:51. > :15:53.ability to upset the debt interest payments against profits will head
:15:54. > :15:57.some sectors, like commercial construction, very hard. The British
:15:58. > :16:01.property Federation warns that it might slow investment. The banks
:16:02. > :16:06.have used some of their previous big losses, remember them, to minimise
:16:07. > :16:11.tax bills, which will be further constrained. Will the Chancellor 's
:16:12. > :16:15.new more aggressive approach to collecting tax work better than his
:16:16. > :16:19.patchy record? Yes, I think it will. I think by setting in place system
:16:20. > :16:26.changes it is much easier to see that there is more likely to be
:16:27. > :16:29.effective than trying to plug the art weird loophole, which is quite
:16:30. > :16:36.tricky to understand whether people are using it and it is effective.
:16:37. > :16:40.The financial backdrop, whether you are big or small, has taken a
:16:41. > :16:44.decidedly gloomy tone. That makes life difficult for all businesses,
:16:45. > :16:46.just like it has for the Chancellor himself.
:16:47. > :16:48.Among the other measures announced by the Chancellor today
:16:49. > :16:50.were investments in infrastructure, especially in road and rail
:16:51. > :16:56.There's an extra ?700 million for flood defences.
:16:57. > :16:58.There's a commitment to introduce elected mayors for English counties
:16:59. > :17:05.And the Chancellor confirmed that all schools in England are to become
:17:06. > :17:10.academies, taking them out of local authority control.
:17:11. > :17:17.That is something that we reported yesterday. Just a selection of some
:17:18. > :17:18.of the other measures in a very densely packed Budget.
:17:19. > :17:20.Our political editor Laura Kuenssberg is in Downing
:17:21. > :17:31.When we look at today, Mr Osborne's eight Budget, what was his main
:17:32. > :17:35.challenge? It shouldn't be a good day at the office for a Chancellor
:17:36. > :17:39.to leave here, turnip and has comments and say, you know that
:17:40. > :17:43.economy I have been in charge of the six years, it is not going quite as
:17:44. > :17:48.well as I hoped, things are looking rather peaky and may take a turn for
:17:49. > :17:51.the worse. But the mood in number 11 is quite chipper tonight. I think
:17:52. > :17:56.they believe that they steered the rather fine line between providing
:17:57. > :18:01.some crowd pleaser is, showing they had some big ideas and, crucially
:18:02. > :18:05.for any Chancellor, pulling off a big surprise with the sugar tax.
:18:06. > :18:10.There is already a whiff of rebellion in the air on the Tory
:18:11. > :18:15.benches over that cuts. Some people see a very punitive and unfair cuts
:18:16. > :18:19.to some disability payments. There is a whiff of rebellion on the Tory
:18:20. > :18:22.benches and outrage if you read from the Labour Party and other
:18:23. > :18:26.opposition parties. George Osborne may have held his nerve today, but
:18:27. > :18:33.might need white knuckles in the days ahead. The king beyond the days
:18:34. > :18:36.ahead and beyond, maybe, the all important EU referendum, which was
:18:37. > :18:41.part of the Budget statement at one point, what are the longer term
:18:42. > :18:47.goals? The overwhelming backdrop to this is the Government 's desire and
:18:48. > :18:51.fear, really, that they had to win the European referendum on June 23,
:18:52. > :18:57.they can't afford to lose that otherwise all their careers, all
:18:58. > :19:02.bets might be. There is a second part of this, George Osborne fours
:19:03. > :19:09.only to ship ambitions. For those reasons he did not want to do
:19:10. > :19:12.anything that would upset his Conservative backbenchers or Middle
:19:13. > :19:17.England. This was another step along the road in his big medical project,
:19:18. > :19:23.mailing the Conservative Party to capture those swing voters in the
:19:24. > :19:25.middle, to truly become, as he would suggest, the party of ordinary
:19:26. > :19:31.working families. One minister said to me, this was a good Budget for
:19:32. > :19:35.the middle class, but there are plenty of people who want to stop
:19:36. > :19:38.George Osborne achieving that goal. Thank you, Laura Kuenssberg.
:19:39. > :19:41.If you want to find out more about the Budget and how it
:19:42. > :19:42.affects your financial circumstances, you can use
:19:43. > :19:47.Enter a few details and it will let you know if you're better
:19:48. > :20:02.You will see lots of news and analysis, also the calculator. Let's
:20:03. > :20:03.move on. In America, the frontrunner
:20:04. > :20:05.for the Republican presidential nomination - Donald Trump -
:20:06. > :20:08.has warned of riots if he's Mr Trump has strengthened his
:20:09. > :20:12.position after winning the latest primaries in three states,
:20:13. > :20:15.but he lost in the key state of Ohio - meaning he could still fall short
:20:16. > :20:21.of the support he needs. In the Democratic race,
:20:22. > :20:23.Hillary Clinton extended her substantial lead over rival
:20:24. > :20:25.Bernie Sanders with wins Our North America editor
:20:26. > :20:33.Jon Sopel reports. He's young, articulate,
:20:34. > :20:35.telegenic and Hispanic, but Senator Marco Rubio
:20:36. > :20:40.is also a loser. Last night the great hope
:20:41. > :20:42.of the Republican establishment was crushed in his home state
:20:43. > :20:45.of Florida by the Donald Trump While it is not God's plan that
:20:46. > :20:52.I be president in 2016, or maybe ever, and while today my
:20:53. > :20:55.campaign is suspended. The fact that I've even come this
:20:56. > :21:01.far is evidence of how special Donald Trump made impressive
:21:02. > :21:07.gains last night. He's now halfway to getting
:21:08. > :21:10.the number of delegates he needs to win outright and is way
:21:11. > :21:13.ahead of his main rivals. He's achieved it, not by wooing
:21:14. > :21:16.the traditional republican base, but by bringing new
:21:17. > :21:19.support to the party. We have a great opportunity
:21:20. > :21:22.and the people that are voting are Democrats are coming in,
:21:23. > :21:25.independence are coming in and very, very importantly, people
:21:26. > :21:27.that never voted before. Donald Trump has had an emphatic
:21:28. > :21:35.victory here in Florida. But perhaps the most striking thing
:21:36. > :21:40.about tonight is what has happened It was to this man, the State
:21:41. > :21:49.governor, John Kasich, a moderate Republican whose now
:21:50. > :21:51.vowed to carry on his fight We are going to go all the way
:21:52. > :21:57.to Cleveland and secure But the path is strew
:21:58. > :22:03.with more than confetti. John Kasich staying in the race
:22:04. > :22:06.means the anti-Trump vote is now split between him
:22:07. > :22:11.and Senator Ted Cruz. What looks certain is that
:22:12. > :22:14.Donald Trump is going to arrive at the convention with way more
:22:15. > :22:17.delegates than anyone else, but potentially short
:22:18. > :22:21.of the majority that he needs. This is where politics
:22:22. > :22:24.clashes with arithmetic. Arithmetically, yes,
:22:25. > :22:26.it would be possible for the Republican establishment
:22:27. > :22:29.to do a stitch-up and put someone else in but, politically,
:22:30. > :22:32.it would be explosive and Donald Trump has warned
:22:33. > :22:35.that if that happens, A threat the authorities
:22:36. > :22:43.are taking seriously. On the Democratic side,
:22:44. > :22:45.things couldn't have been sweeter If we win in November,
:22:46. > :22:51.I know our future will be brighter Her path to the nomination seems
:22:52. > :23:00.less complex and already her advisers are war gaming the next
:23:01. > :23:03.battle - how to take on Donald Trump, her most likely
:23:04. > :23:09.Republican opponent. Jon Sopel, BBC News,
:23:10. > :23:14.Palm Beach, Florida. A brief look at some of the day's
:23:15. > :23:17.other news stories... A man shot dead by the police
:23:18. > :23:20.in Brussels yesterday has been identified as an Algerian national
:23:21. > :23:24.who was in Belgium illegally. The raid was linked
:23:25. > :23:25.to the investigation into the attacks in Paris that
:23:26. > :23:30.killed 130 people last November. Police say they found an assault
:23:31. > :23:33.rifle, the flag of the so-called Islamic State group,
:23:34. > :23:35.and a book of extremist literature The European naval force targeting
:23:36. > :23:40.migrant smuggling gangs in the Mediterranean says there's
:23:41. > :23:44.been a sudden increase in the number of boats crossing
:23:45. > :23:47.from Libya to Italy. These pictures, given
:23:48. > :23:49.to the BBC by the Royal Navy, show some of the migrants
:23:50. > :23:52.rescued earlier today. Hundreds have been rescued
:23:53. > :23:55.in the past few weeks and many more are expected as the
:23:56. > :24:05.weather improves. Arsenal have been knocked out of
:24:06. > :24:07.the Champions League by Barcelona. They'd travelled to the home
:24:08. > :24:10.of the Spanish Champions - the Nou Camp - needing
:24:11. > :24:20.to overturn a two-goal deficit. A rainy night in Barcelona. Arsenal
:24:21. > :24:24.may have wished their opponents had stayed indoors. The defending
:24:25. > :24:28.champions are a daunting prospect. Unbeaten since October, with one of
:24:29. > :24:33.the best attacking line-up since history. When this team clicks into
:24:34. > :24:39.gear, it takes something special to stop them. 2-0 down from the first
:24:40. > :24:48.leg, Arsenal 's claim would become steeper. Messi, Neymar and Suarez
:24:49. > :24:56.had combined for 103 goals this season. Their 104th looked easy.
:24:57. > :25:01.After the break, Arsenal's efforts were rewarded, Mohamed Elneny's
:25:02. > :25:05.first goal for Arsenal. Their revival was brief, even in the
:25:06. > :25:10.Champions League, Barcelona play for fun. The Nou Camp is a playground
:25:11. > :25:16.for Louis Suarez. There was time for them to tie further with Arsenal, as
:25:17. > :25:19.Messi completed the game. Arsenal's Champions League journey is over,
:25:20. > :25:20.Barcelona roll onto the quarterfinals.
:25:21. > :25:24.A last look at the Budget tonight, this time focussing on measures that
:25:25. > :25:26.could affect families and young people throughout the UK.
:25:27. > :25:28.On savings, there'll be a new Lifetime ISA,
:25:29. > :25:30.specifically for the under-40s and the Government will top-up
:25:31. > :25:37.On duties, the tax on beer, cider and spirits will be frozen.
:25:38. > :25:41.But tobacco duty will rise by 2% above inflation.
:25:42. > :25:43.Reeta Chakrabarti has been getting reaction to the measures
:25:44. > :25:49.at Stockport College in Greater Manchester.
:25:50. > :25:51."We are the builders," declared the Chancellor,
:25:52. > :25:53.and young adults learning the bricklaying trade
:25:54. > :25:58.17-year-old Harvey is keen to get on.
:25:59. > :26:00.He's interested in George Osborne's proposed lifetime ISA,
:26:01. > :26:03.encouraging young people to save by giving them ?1 for every
:26:04. > :26:10.You've got different types of ISAs you can put your money away in.
:26:11. > :26:14.So you can start saving up for things that you need in life,
:26:15. > :26:23.Just building up that money to get you off in life.
:26:24. > :26:25.I now call the right honourable George Osborne,
:26:26. > :26:30.He's one of a group the Chancellor repeatedly name checked,
:26:31. > :26:32.the next generation, the focus of today's Budget
:26:33. > :26:38.George Osborne's next generation should be in optimistic mood
:26:39. > :26:43.The north-west of England has, he says, the fastest growing rate
:26:44. > :26:51.of employment in the country, but it's not that straight-forward.
:26:52. > :26:54.18-year-old Hayley has been listening to the message too.
:26:55. > :26:56.She harbours big ambitions, she's training to be a chef
:26:57. > :27:01.while working part-time and she wants to own her own business.
:27:02. > :27:04.She likes the idea of being helped to save, but...
:27:05. > :27:07.The money that I do make, I have to use it for public
:27:08. > :27:10.transport, also buying food for myself during the week.
:27:11. > :27:15.At the end of the day, it's a good decision,
:27:16. > :27:18.but it's how - are you going to start saving, if you don't
:27:19. > :27:22.have the money to start saving with in the first place?
:27:23. > :27:25.Dominic Smith used to be a teacher, now he's retraining as a plumber.
:27:26. > :27:28.For him, raising the threshold at which people pay tax to ?11,500
:27:29. > :27:37.I think for workers it's a good thing to be able to know that a bit
:27:38. > :27:40.more of your money you've earnt will go into your own pockets and,
:27:41. > :27:43.hopefully, boost the economy by spending it the way that
:27:44. > :27:51.But for car owners and anyone paying insurance, it was a different story.
:27:52. > :27:55.The tax on premiums will go up by 0.5%, a smaller increase
:27:56. > :28:00.than expected, but it comes on top of a bigger hike last year.
:28:01. > :28:03.I'm not happy at all because that does affect me because I'm a car
:28:04. > :28:07.owner, I'm a homeowner, you know, I have a mortgage to pay.
:28:08. > :28:10.I'm trying to stand on my own two feet, I have done all my life,
:28:11. > :28:13.and I do find that slightly frustrating.
:28:14. > :28:15.Forging a vision for the country that echoes people's personal
:28:16. > :28:20.ambitions is what Chancellor's attempt on Budget Day.
:28:21. > :28:23.George Osborne will hope what he's produced is suitably joined up.
:28:24. > :28:31.Reeta Chakrabarti, BBC News, Stockport.
:28:32. > :28:36.Some of the views in stock but college. We have talked about the
:28:37. > :28:39.main measures and the potential impact of some of them, but what
:28:40. > :28:41.about the policy risks? Just time for a last word
:28:42. > :28:50.with our economics editor, How do you see those? It has been a
:28:51. > :28:54.long day, but a significant one, not just a policy risk that a political
:28:55. > :28:59.risk is the issue of the Budget surplus. The downgrade in economic
:29:00. > :29:04.growth was more significant than normal downgrades because was based
:29:05. > :29:09.on failure on the of productivity. Policies to change productivity take
:29:10. > :29:11.a long time. We're talking about improving skills, encouraging
:29:12. > :29:17.businesses to invest. That is long-term. Getting that productivity
:29:18. > :29:21.up and improving economic growth will take a long time. The second
:29:22. > :29:28.big area of risk for the Chancellor and the Government is this big bet
:29:29. > :29:34.on 2019 and 2020, when everything will come together, the tax cuts,
:29:35. > :29:38.the tax rises will comment, the public sector cuts will come in,
:29:39. > :29:43.meaning he can hit this budget surplus. They are relatively heroic
:29:44. > :29:47.in terms of what he is trying to achieve in that final year, and if
:29:48. > :29:54.he does not do that he will fail on his final fiscal rule. He has missed
:29:55. > :29:56.two, he still has the third, can he hit that target? Thank you for your
:29:57. > :29:57.final word, Kamal Ahmed. Newsnight is coming up
:29:58. > :30:00.on BBC Two in a few moments. There were quite a few missed
:30:01. > :30:04.targets in the Budget today, so we'll be delving
:30:05. > :30:06.into the excuses. Join me now on BBC Two,
:30:07. > :30:13.11.00pm in Scotland. Here, on BBC One, it's time
:30:14. > :30:17.for the news where you are.