Budget report at-a-glance

HIGHLIGHTS

No major tax rises

Borrowing to rise from £11bn to £20bn

Growth targets for this year revised down from 2.5% to 1.6%

Plans to consult on increasing landfill tax escalator, currently £13 per metric ton per year, by £3 per ton per year from 2005/2006

Britain weathering "worst global economic downturn since 1975" better than other major economies

Chancellor warns against inflationary public sector pay deals

Mervyn King is to be the new governor of the Bank of England, replacing Sir Edward George, who is retiring

£1bn boost in defence spending

INTERNATIONAL COMMITMENTS

Britain is proposing a new multinational plan to double Third World aid to $100bn a year by 2015

Helping secure more debt relief for 26 of the world's poorest poor countries

PENSIONS

New pension credit to be set for pensioner couple on £120 a week at £21.50 a week extra

A couple on £160 a week will receive £17.50 a week extra, while those on £170 a week will receive £13.50 a week

A single pensioner with a £110 a week income will receive £11.60 a week

Considering further tax and National Insurance reforms to boost child care

WORK

Sir Roy Gardner, chief executive of Manchester United, to head a new apprenticeship task force

Expand training and management courses for small businesses

More work permits for immigrants

Education secretary will announce over three years £75m to promote education and enterprise in schools

ENTERPRISE

Local authorities will be allowed to keep additional rate income from creation of new businesses

Abolish stamp duty on businesses in 2,000 regeneration areas

Devolve business support schemes to the regions

Formal review of employers' operators liability insurance

Consult small businesses on more exemption from VAT

Extension of small firms loan guarantee scheme

New shareholder executive announced for January

ECONOMY

PFI contracts to be extended to regeneration projects

Office of Fair Trading will scrutinise public sector regulations

All public spending pledges will be met

Five economic tests on euro entry to be completed by June next year

Net borrowing will be £20bn this year, £24bn next year, £19bn in 2004, £19bn in 2005 and £20bn in 2006

Current budget surplus is 0.2% this year, rising to 0.7% in four years time

Debt this year will be 31% of GDP

Sustainable investment rule will be met over the economic cycle

'Golden rule' on borrowing will be met over the economic cycle

GDP growth 1.6% this year rising to 2.5% to 3% next year and 3 to 3.5% in 2004

More balanced economic growth ahead

Inflation target of 2.5% this year will be met