Education - spending up £2.4 billion to £8 billion over five years

£44,000 extra for every primary school, and £190,000 for all secondaries.

Further education to A-level standard to be free for anyone up to the age of 25.

Pupil-teacher ratio to be improved by raising funding per pupil to match that of private schools, with investment in schools rising to £8 billion a year.

3,000 science teachers to be recruited. After school science clubs in 250 schools.

Cars and transport – gas-guzzlers targeted

Road tax cut or frozen for half of all drivers, with a zero rate for the "greenest" cars rising to £210 for the most polluting.

Increase in fuel duty deferred to September 1.

Clean fuel to be 35p a litre lower than the most polluting.

Free off-peak bus pass for every pensioner and disabled person from 2008.

Cigarettes, wine, spirits – "World Cup" champagne boost

Cigarettes up 9p per pack of 20, wine up 4p a bottle, beer up 1p per pint.

Duty on spirits, sparkling wine and cider frozen.

Stamp Duty, housing and first time buyers

Stamp Duty exemption threshold raised to £125,000.

Government is also allocating £970 million to help people get on to the property ladder. Money will help 35,000 people buy their first home through its new shared equity scheme.

Inheritance and income tax – thresholds raised

Inheritance tax threshold rises to £325,000 from current level of £275,000 to £325,000 over the next four years

Personal income tax allowance raised from £4,895 to £5,035.

Sports and Olympics

Creation of a £600 million fund for elite athletes, including £200 million of Government money

An annual school Olympics around the country in the run-up to the 2012 Games, starting in Glasgow this year, and a £34 million National Sports Foundation.

Science, enterprise and innovation

Single budget worth at least £1 billion a year for medical research.

Changes to research funding, to enable money to go directly to universities.

£100 million to double enterprise capital fund to invest in new business.

Scholarships to US universities for young entrepreneurs.

Families and pensioners

Child tax credit to be worth up to £88 a week.

Youngsters in receipt of Child Trust Funds to get an extra £250 or £500 at the age of 7.

Childcare tax free voucher to be raised from £50 to £55.

Pensioners’ winter allowance £200.

Free off-peak national bus travel for pensioners and the disabled from April 2008.

Climate

Increase the climate-change levy in line with inflation.

Britain to propose a World Bank facility to enable developing countries to invest in alternative energy sources and technologies.

Carbon capture and storage ability in the North Sea to be developed commercially.

UK to set up energy research institute.

Major extension of insulation to 250,000 homes.

Public pay and sell-offs

A £30 billion sell-off of Government assets by 2010, including the Tote and Westinghouse

Public sector pay settlements will average 2.25 per cent.

Security, police and Armed Forces

Funding for the Armed Forces up by £800 million, with another £200 million for peacekeeping operations.

£100 million for 16,000 community support officers, up from 6,000.

Fight against terrorism to get nearly £43 million from existing government funds. Money will be allocated for “emerging counter-terrorism priorities” in 2006/07 and the following financial year.

There will also be an initial endowment of £1 million to a charitable fund to support Britons injured or affected by terrorist attacks overseas, as well as at home.

Economy

Inflation on target at 2 per cent

Growth will be 2-2.5 per cent this year, then 2.75-3.25 per cent in 2007-08

Borrowing

Met “golden rule” on public borrowing and on course for a £16bn surplus over the economic cycle ending in 2010-11

Net debt is 36.4 per cent of national income rising to 38.4 per cent in 2011

Net borrowing is £37 billion this year, £36 billion next year, then £30 billion falling £23 billion in 2010-11

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