What budget means for us

CHANCELLOR ANNOUNCES RAFT OF MEASURES AIMED AT EASING THE COST OF LIVING AS WELL AS A SERIES OF TAX INCREASES

- By JOSEPH TIMAN

RACHEL Reeves set out her tax and spending plans as she delivered her second budget since Labour came to power.

The chancellor announced a raft of measures aimed at easing the cost of living as well as a series of tax increases, raising £26bn in total.

Household energy bills are expected to come down by around £150 a year on average, while rail fares have been frozen and the 5p cut in fuel duty has been maintained. However, tax thresholds will be frozen, which Ms Reeves admitted will affect 'working people'.

The removal of the controversial two-child benefit cap, which promises to lift hundreds of thousands of children out of poverty, has been welcomed by MPs and campaigners in Greater Manchester. Meanwhile, mayors across the country, including Andy Burnham, will be allowed to introduce a tourist tax in their regions - something that local leaders and think tanks have been lobbying for for years.

Billions of pounds have also been allocated to mayors with several pots of funding benefiting Greater Manchester. The chancellor also reiterated her commitment to Northern Powerhouse Rail. However, she still hasn't set out what the long-promised project will include.

Cost of living

There are several measures announced in the budget which are aimed at cutting bills and boosting pay packets. This includes scrapping 'legacy' costs on energy bills from April - a move which is expected to save the average household £150 a year.

According to the government, 280,000 poorer households in the North West will save up to £300 when combined with the recent expansion of the Warm Homes Discount. Ms Reeves also confirmed rail fares will be frozen while the 5p cut in fuel duty will remain.