Labour’s Budget - Building Britain's Future - is a Budget for jobs and targeted investment in a stronger recovery.

Labour is investing now so we are best placed to take advantage of the upturn. We believe that we should grow our way out of recession not cut our way out of recession.

The action Labour has already taken will protect half a million jobs in Britain, and is providing real help for people and businesses in every region.

We will prepare the British economy for the jobs of the future. Whether it be the advent of a low carbon economy, advanced manufacturing or biosciences Britain will be ready to share in this prosperity so that every person in Britain benefits.

Today’s Budget announces:

• Supporting people back into work with an extra £1.7 billion in Jobcentre Plus.

• Supporting 18-24 year olds with a guaranteed job, training or work placement for all who reach 12 months unemployment.

•  Supporting pensioners with an additional payment alongside the Winter Fuel Payment worth £100 for households with someone aged over 80 and £50 for households with someone aged over 60

• Supporting savers by raising the tax free Individual Saving Accounts (ISAs) limit to over £10,000.

• Supporting families with children by increasing the Child Tax Credit by £20 a year from April 2010.

• Supporting those made redundant by increasing statutory redundancy pay to £380 per week.

• Supporting homeowners with a £600 million funding package to build more homes through unlocking sites currently sitting dormant

• Supporting the housing market by extending the stamp duty holiday to the end of the year for properties under £175,000.

• Supporting business by extending the Business Payment Support Service to help businesses experiencing short-term cash-flow difficulties.

• Supporting the automotive industry by enabling people who scrap vehicles older than ten years to replace them with new vehicles at a discount of £2,000.

David Cameron’s Conservatives do nothing but talk Britain down and would cut support for families during these tough economic times. They are alone in believing that we should not grow our way out of recession but cut our way out of recession.

Read the full text of the Budget Statement