• Structiural deficit has fallen 3% in the last 2 years
• Will stick to existing spending plans, extending fiscal consolidation by a year to 2017-2018
• No net increases in taxes Will conduct a review for departmental spending in H1 2013 and reducing their budgets by 1% this year
• No military manpower reductions
• Capital investment will get another £5 bln, Roads will get £18 bln in upgrades
• Funding will be made available for 120,000 new homes and build new free schools
• Plans to spend £77 mln combating tax evaders, sees £2 bln collected as a result
• Need to ask more from the wealthy, the rich paid £7 bln less in 1st year of 50 tax rate
• No new property taxes