The Chancellor Delivers Pre Budget Report 5/12/2005

KEY MEASURES

• Growth forecast halved to 1.75%
• Borrowing £5bn higher
• £2bn a year tax on North Sea oil profits
• Proposed new tax on land sale profits
• Extending the economic cycle by further two years
• More 'shared equity' schemes for first time buyers
• Duty on petrol and diesel frozen
• Pensioners' £200 winter fuel payment extended for the rest of the current Parliament
• Over 80s to get £300
• £135m extra for counter-terrorism £580m extra for operations in Iraq and Afghanistan
• Unclaimed bank assets used to fund youth projects

Pre-Budget at-a-glance from the BBC