Chancellor George Osborne has said today's Budget will simplify tax for businesses.

He said it would reward work, supporting working families and those looking for work.

"Britain is going to earn its way in the world," he said.

What do you think? Let us know by emailing julie.hayes@thepress.co.uk or calling 01904 567144.

The Chancellor's main headlines

• The Office for Budget Responsibility had upgraded its growth forecast for 2012 to 0.8 per cent, followed by 2 per cent in 2013, 2.7 per cent in 2014 and 3 per cent in 2015 and 2016.

• The deficit is expected to reach 7.6 per cent next year.

Business

• Corporation tax reduced from 26 per cent to 24 per cent in April 2012, to 23 per cent in April 2013 and 22 per cent by April 2014.

• Corporation tax reliefs from April 2013 for the video games, animation and high-end television industries.

• Extension of Enterprise Finance Guarantee.

• Relaxation of Sunday trading laws during the Olympics and Paralympics.

• Below inflation increase of the National Minimum Wage.

• Improvements to the Enterprise Management Incentive scheme to help small to medium-sized businesses recruit and retain talent, including support to help start-ups access the scheme and increasing the grant limit to £250,000.

• Simplified tax returns for businesses turning over up to £77,000, based on cash passing through the business.

• Loans for young people to start businesses.

• Research and development tax credits improvements.

Duty

• No changes to fuel increase of 3p per litre in August.

• New duty on gaming machines.

• VAT on tobacco to increase by 5 per cent above inflation, that's 37p on a pack of cigarettes.

Infrastructure

• A national roads strategy, with the Government considering a feasibility study into new ownership and financing models for the national road network.

• A £100 million investment in ultra-fast broadband for ten cities: Belfast, Birmingham, Bradford, Bristol, Cardiff, Edinburgh, Leeds, London, Manchester and Newcastle.

• A new Pension Infrastructure Platform owned and run by UK pension funds, to invest £2 billion, initially, in infrastructure.

• Improvements to the Northern Rail Hub, including further electrification.

Personal tax

• Higher rate of income tax to be reduced from 50 per cent to 45 per cent in April 2013.

• Income tax personal allowance to be increased by £1,100 in April 2013, taking it to £9,205 in total.

• Freezing age-related personal allowances from April 2013, with a view to removing them completely.

• Child Benefit to be withdrawn on a sliding scale, from people earning over £50,000 per year, with all benefit removed from earners of £60,000 plus.

• A cap of £50,000 on income tax relief.

• Stamp Duty rate of 7 per cent for residential properties over £2 million.

• A general rule against tax avoidance.

• Annual statements showing taxpayers how much they pay and what for, from 2014/15.