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- Chancellor George Osborne announced that not just the 3p rise in beer tax planned for this year, but the schedule to automatically increase beer duty by 2 per cent above inflation every single year has been cancelled. He further reduced beer by a further 1p per pint.
- A planned increase in fuel duty of 3p in September was also cancelled.
- He announced a new £3.5 billion initiative to boost the housing market, Help to Buy, which will offer an equity loan worth up to 20 per cent of the value of a new build home to anyone - not just first time buyers or households with incomes below £60,000.
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