Chancellor Alistair Darling has unveiled a Budget he said will secure economic recovery and tackle borrowing.
He claimed Labour had made the "right calls" in dealing with the worst recession for 60 years.
And, emphasising a key theme of the forthcoming General Election, he said: "At the heart of our decisions is a belief that Government should not stand aside, but instead help people and business achieve their ambitions."
He said borrowing was lower than forecast last year, adding: "The task now is to bring down borrowing in a way which does not damage the recovery or the front-line services on which people depend."
He announced a £2.5 billion one-off growth package.
And he revealed that the one-off 50% tax on the "excessive bonuses" of bankers had already raised £2 billion, more than twice as much as forecast.
Mr Darling said more countries now agree on the need for an international systemic tax on banks, which must be brought forward quickly, as he will urge international finance ministers in Washington next month.
The Chancellor said such a tax should be internationally co-ordinated, as going it alone would cost thousands of jobs, not just in London, but across the country.
The Stamp Duty limit for first-time buyers will be doubled from midnight to £250,000 for this year and next, to be funded through an increase in Stamp Duty to 5% for houses worth more than £1 million from April 2011, the Chancellor announced in the Budget.
Mr Darling also revealed that, from next month, the annual ISA limit will rise from £7,200 to £10,200 and ISA limits will increase annually in line with inflation.
And next month's increase in fuel duties will be staged, he told MPs. Fuel duty will rise by a penny in April, followed by a further 1p rise in October and the remainder in January.
© 2012 The Press Association Limited
