Chancellor Alistair Darling delivered his first budget to Parliament and announced big increases in duty on alcohol - adding 4p to a pint of beer, 14p to a bottle of wine and 55p to a bottle of spirits.
He also increased duty on a packet of cigarettes by 11p and announced higher road tax for the most polluting cars, but delayed a 2p rise in fuel duty for six months.
In addition, the government had already announced details of significant changes to the tax system which will take effect on 6 April.
On Thursday, BBC Radio 4's Money Box and You and Yours programmes teamed up to answer your questions about what the Budget will mean for your finances.
Presenters Vincent Duggleby, Paul Lewis and Liz Barclay were joined by a panel of experts including:
Mike Warburton, tax partner at accountant Grant Thornton
Angela Beech, partner, Blick Rothenberg
Eddy Graham, Child Poverty Action Group
Presenters: Vincent Duggleby, Paul Lewis, Liz Barclay
Producer: Jennifer Clarke