The Chancellor's pre-budget report is being delivered today.

See below for the news as it happens. From business editor Trevor Sturgess:

• All National Insurance rates to rise by an additional 0.5 per cent.

  Free school meals extended.

  State contributions to pensions for teachers, civil servants and other public sector workers to be capped, saving£1bn a year. £100m cut in civil service pay bill.

• Public sector employees earning over £100,000 will pay more for pensions.

  Public sector pay rises to be capped at one per cent for two years from2011

  £2.5bn to be set aside for operations in Afghanistan

  Alistair Darling said: "The spending environment will be tough over the next few years."

£10bn of savings identified in the NHS

Chancellor abnadons his plans to change inheritance tax.

Tax on bank bonuses will be paid by bank, not the individual.

• No income tax rises.

Sticking to spending plans next year.

A one-off levy of 50 per cent on any discretionary bank bonuses above £25,000

• New internship scheme for 10,000 students.

50 p tax on landline telephones to fund superfast broadband.

New lower corporation tax of 10 per cent on profits derived from patents

• Bank of England expects Inflation to reach 1.5 per cent by end of 2010

Bingo duty to be cut from 22 per cent to 20 per cent.

• UK economy expected to fall by 4.75 per cent this year. Next year forecast growth of between 1 and 1.5 per cent. 3.5 per cent growth forecast in 2011 and 2012.
• Electric vehicles exempt from company car tax for five years.

• Governmentborrowingwill be £178bn becuase of the severity of recession.

  But should fallto £96bn within five years.

  Reduced minmimum hours for the over-65s to qualify for pension credit

  Enterprise Finance Guarantee Scheme for firms extended for a further 12 months.

  New investment in wind power and renewable energy. and £160m investment in low carbon schemes. Additionaly £200m to help with energy efficiency.

• Over 50s will be given tailored support to find a job

  Under 24-year olds will only have to be unemployed for six months before beingoffered job or training.

  Basic state pensionwill rise by 2.5 per cent in April.

  Child and disablity benefit up 1.5 per cent in April.

• Stamp duty holiday to end on January 1

  Support for mortgage interest scheme will be extended by six months

  Corporation tax increase for small companies deferred.

• Chancellor of the Exchequer Alistair Darling said in his Pre-Budget Report that there was grong evidence that global confidence is returning.

  He also said: "I am confident the UK economy will start growing by the end of the year."

  He confirmed that the Vat rate would be restored from 15 per cent to 17.5 per cent on January 1.He ruled out further Vat announcements.