Here are the key points of Chancellor Alistair Darling’s 2010 Budget, the last one before the general election.

UK Budget 2010

FUEL, CIGARETTES AND ALCOHOL DUTIES

• 3p fuel duty rise to be phased in<http://news.bbc.co.uk/1/hi/business/8585352.stm> in three stages between April and January 2011 rather than in one go next month
• Cider duty to rise by 10% above inflation <http://www.bbc.co.uk/blogs/daveharvey/2010/03/chancellors_cider_tax_leaves_w.html> from midnight on Sunday Wine, beer and spirit duties to rise by 2% from midnight on Sunday and further 2% rise planned for two years from 2013.
• Tobacco duty up 1% from midnight on Sunday and by 2% in real terms each year until 2014

HOUSING

• Stamp Duty scrapped for homes  <http://news.bbc.co.uk/1/hi/business/8585423.stm> selling for up to £250,000 for first-time buyers, but only for two years.
• Stamp duty on residential property sales over £1m to increase to 5% from April 2011.
• The most expensive properties in each area will be excluded from Housing Benefit calculations.

UK ECONOMY

• Economy contracted 6% during the recession<http://news.bbc.co.uk/1/hi/avconsole/latest_news/857354.stm>.
• Predicted growth of 1% to 1.25% in 2010, in line with forecasts.
• 2011 growth forecast lowered from 3.5% to 3-3.5%.

BORROWING

• Borrowing this year forecast to be £167bn<http://news.bbc.co.uk/1/hi/business/8584978.stm> – £11bn lower than predicted in December.
• Borrowing to fall from £163bn in 2010-11 to £74bn by 2014-15.
• Public sector net debt to reach 54% of gross domestic product this year,increasing to 75% in 2014/15.

HELP FOR BUSINESS

• £2.5bn package for small business to boost skills and innovation<http://news.bbc.co.uk/1/hi/business/8585144.stm>
• One year business rate cut from October to help 500,000 companies.
• Investment allowance for small firms doubled to £100,000.
• Doubling relief on capital gains tax for entrepreneurs but no change to capital gains tax rates.
• £385m to maintain road network.
• Canals body British Waterways to become charitable trust not sold off

BANK LENDING

• One-off bank bonus tax has raised £2bn, double the amount forecast.
• Basic bank account guarantee for a million extra people.
• RBS and Lloyds Bank Group to provide £94bn in small business loans.
• Backs tax on bank transactions but on global basis.
• New service to adjudicate credit disputes

JOBS AND TRAINING

• Six month work or training guarantee for under 24s extended to 2012.
• Amount of time over-65s must work to receive work credits reduced.

OTHER TAXES AND ALLOWANCES

• Tax allowances for those on over £100,000 gradually removed. No changes to allowances for everyone else.
• Annual limits on Individual Savings Accounts (ISAs) will rise from £7,200 to £10,200 next month.
• No changes to VAT or income tax planned.
• Inheritance tax threshold frozen for four years.
• Clampdown on tax avoidance to raise £500m
• New tax agreements with Belize, Grenada and Dominica

GOVERNMENT SAVINGS

• On track to achieve £11bn efficiency savings target by 2012-3.
• Reform of housing benefit to save £250m.
• 15,000 civil servants to be relocated outside London.
• As part of £343m cuts to the Ministry of Justice budget, the Courts Service and the Tribunals Service will be merged and 20 magistrates courts closed.

ENVIRONMENT

• £2bn investment bank to back low-carbon industries such as offshore wind.
• Government to provide £1bn through asset sales

EDUCATION

• Funding for 20,000 new university places in science and maths but institutions must make savings elsewhere.
• £35m enterprise fund to help university-launched businesses.

PENSIONS AND BENEFITS

• Winter fuel allowance rates extended for further year.
• £4 rise in child tax credit for parents with young children from 2012.