Budget 2016

'Arbitrary' decision to apply a brutal welfare cap prompted 'desperate search for savings' and has left target in tatters

Leading think-tank criticises economic policies that will 'lower wages and living standards'

Workers have to put aside money for two years to get initial boost and four years to get maximum amount

Some believe U-turn is a "missed opportunity", while others say plans would have 'double-taxed' some savers

Chancellor hails £8bn increase in revenues from high earners, sparking speculation of further cuts in Budget

Chancellor hints at further austerity measures during interview at G20 meeting in China

Lower debt servicing costs could offset weaker tax revenues as a result of market turmoil