Budget 2016: George Osborne announces sugar tax on soft drinks companies - as it happened

Chancellor signals new round of austerity measures

Osborne is expected to renew his commitment to austerity (Getty Images)

Here are the latest updates:

• Osborne announces sugar tax on soft drinks companies
• George Osborne 'takes £4.4bn from disabled people to fund tax breaks for rich'
• Use our calculator to work out how your taxes have changed
• Four things George Osborne didn’t want you to know from the Budget
• From corporation tax to stamp duty - the key measures for business at a glance
• George Osborne's speech – what he said and what he meant
• George Osborne put big business ahead of children and disabled people in his Budget, charities say
• John McDonnell: Osborne has achieved almost nothing of what he promised in 2010 
• What is the Budget?

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Cuts to disability benefits and forcing schools to become academies are just some of the measures George Osborne has announced in his Budget.

A faltering stock market and slow economic growth are among the challenges the Chancellor has faced since the Autumn Statement in November.

Here are three groups of people that look set to lose out:

Those on disability benefits see their benefits payments reduced by £55 a week.

The decision by Ministers to remove the PIP – Personal Independence Payment – benefits from more than 600,000 disabled people over the next five years, saving around £1 billion a year, is expected to be used to cut tax for the middle-class.

Local-authority run schools will be forced to become academies by 2020, according to reports.

Academies have more powers over their own budgets, curriculum, the hiring of staff, term times, and the length of school day. But Ofsted figures analysed in 2010 showed that many academies were performing worse than other local-authority maintained schools.

Drinkers and smokers will face higher duties. Drink duties will rise with inflation. An above-inflation duty will be pushed through on cigarettes.

[16 March 2016 17:06 · theneweconomics]

@hazelsheffield Short-changing the next generation: our response to #Budget2016 bit.ly/1LqC6J3 http://pbs.twimg.com/media/CdrtQJgXIAMVrm2.jpg

[16 March 2016 17:06 · theneweconomics]

Minimum wage rise: TWO-THIRDS of 21-24 year olds STILL won't be earning the official @LivingWageUK #Budget2016 http://pbs.twimg.com/media/CdrtbRiW0AAT_pk.jpg

[16 March 2016 17:23 · Kristin Hugo]

Michael Bloomberg, the former three-term mayor of New York City, has praised the Chancellor for introducing a sugar tax on companies

[16 March 2016 18:07 · Torsten Bell]

National Living Wage update: OBR now expects it to be exactly £9 in 2020, down from £9.35 back at the Summer Budget

[16 March 2016 18:26 · Jeremy Corbyn]

This is a Budget built on failure and a recovery built on sand. Watch my response to Osborne’s Budget #Budget2016amp.twimg.com/v/f57839b4-035…

[16 March 2016 19:13 · jdportes]

If govt succeeds in reducing migration, result will be higher taxes/more spending cuts, says OBR http://pbs.twimg.com/media/CdrunQFUsAAsbQY.jpg

[16 March 2016 19:16 · Jon Stone]

UK will now have 19% corporation tax rate, lowest in the G20. Is that really an optimum rate? #Budget2016 http://pbs.twimg.com/media/CdsTBo7W0AAzKNn.jpg

[16 March 2016 19:17 · Jon Stone]

UK will have a 17% corporation tax - by far lowest in the G20. Is that really an optimum rate? #Budget2016 http://pbs.twimg.com/media/CdsTuLiWIAAxs_M.jpg

[16 March 2016 19:31 · HannahB4LiviMP]

On train home to Scotland and torn between budget reading and House of Cards #traveldilemma http://pbs.twimg.com/media/CdsVK7LWoAA3Aiu.jpg