In the announcement earlier today, along with the news that we’ll be getting a new style of pound coin – oh how we’re quivering with excitement – the Chancellor promised to help 'makers, doers and savers'.
But, if that doesn’t mean much to you – it went right over our heads – check out this quick breakdown of how the measures could affect you.
On Fuel Duty:
Excellent news for all the drivers out there! George has frozen fuel duty again, meaning we won’t be paying more at the pumps.
Your personal taxes:
Your personal tax allowance – the cash you earn that you don’t pay any income tax on – is to be pushed up to £10,000 this April.
But they’ve now announced this will go up to £10,500 by April 2015.
It works out as about £800 extra in your purse, each year!
And, the higher rate threshold is to rise to £41,865 – meaning more people will be out of the 40% tax band.
On Bingo and Booze:
Bingo duty is set to be halved, from 20% to 10%, and they’ve frozen duty on ordinary Cider and Scotch Whisky.
Oh, and they’ve cut beer duty by a penny. WOOHOO.
Shame they’ve not done the same for wine though.
If you’re parents:
They're introducing a childcare tax break for working parents.
The new scheme, which will replace the old voucher system, is thought to be worth up to £2000 per child.
But, if one of you stays at home to care for your child/children, you won’t qualify.
For everyone trying to save:
From July, the amount we can all save, tax free in our ISAs, has been raised, from £11,520 to £15,000.
Or, if you’ve going to get some Premium Bonds, George is raising the amount you can purchase by £10,000, so you can now buy up to £40,000, if you're feeling flush...
And they’re introducing an extra £1 million monthly prize, on top the existing one!
For the older generation:
All tax restrictions on pensioners’ access to their pension pots will be removed and the total amount of pension savings that can be taken as a lump sum will increase to £30,000.
And the taxable part of your pernsion pot, taken as cash on retirement, will be charged at the normal income tax rate – 55% less than before!
If you’re a first time buyer:
The Help To Buy equity loan scheme has been extended to 2020.
This should, in theory, help a further 120,000 people get on the property ladder.
On Religion:
If you love cathedrals, then you’re in luck because they’ve pledged a massive £20 million to help with repairs for the historic buildings.
If you don't, maybe ignore this part because it could make you a little angry.
On Smoking:
Bad news for anyone who’s still struggling to pack in the fags – the price of cigarettes is going to rise, by 2% more than inflation!
May as well quit now, eh?