James Bloodworth
:Don't Give the Woolwich Attacks a Meaning They Don't Deserve
Dr Bharat Malkani
:The Government's Shameful Treatment of Lindsay Sandiford
Alistair Barbour
:The Woolwich Murders and the Far Right
Chuka Umunna
:Ed's Google Speech and What It Means for Responsible Capitalism
Jemma Wayne
:Time to Stop Laughing at Farage's Bad Jokes
George Osborne has delivered his 2012 Budget to the Commons, and as expected the 50p top rate of tax is being cut to 45p, a measure which will come into effect a year from now.
"We are earning our way out of trouble," the Chancellor said at the conclusion to his speech, insisting that the top rate of tax - introduced by the last government - had only encouraged tax avoidance and raised less than a third of the amount previously expected.
The chancellor also performed a major U-turn on cuts to child benefits for middle-incomes.
Rather than taking benefits away from any household with someone earning just over £40,000, the rate at which benefits begin to be cut is raised to £50,000 - and it won't be an automatic cut, rather it will escalate depending on earnings, with the entire benefit only being taken away from someone earning £60,000.
Here's how politicians, business and the unions responded to the major changes outlined in George Osborne's speech:
FULL BUDGET COVERAGE
Iain Anderson: You Pays Your Taxes and You Makes Your Choice on This Budget
Loading comments… 
The Huffington Post UK | By Asa Bennett Posted: 21/03/2012 14:24 Updated: 21/03/2012 14:31