UK Budget Main Points

Government spending to be cut by £11 billion next year.

An additional £33 million to be allocated to the Northern Ireland budget.

Some 15,000 civil servants will be decentralised out of London, including 210 to the North.

Duty on wine, beer and spirits will increase as planned on Sunday and will also rise by 2 per cent above inflation each year until 2014.

Duty on cider to increase by 10 per cent above inflation, while stronger ciders will be taxed “more appropriately”.

Fuel duties will increase by 1p in April, by 1p in October and by a further 0.76p in January 2011.

Tobacco duty will increase by 1 per cent above inflation now and then by 2 per cent above each year until 2014.

Stamp duty for first-time buyers to be eliminated on properties of less than £250,000.

Stamp duty to be increased to 5 per cent for properties of £1 million-plus.

RBS and LLoyds will provide £94 billion in new business loans in the coming year, with almost half to be given to SMEs.

A new credit adjudicator will consider complaints from SMEs unhappy about their access to credit.

Tax relief on pensions of high-earners will be restricted from next year.