The Chancellor Alistair Darling has delivered his first budget saying that Britain will weather the current economic storms, whilst on the housing market, facing calls for changes in the stamp duty threshold.

The key points:

- Mr Darling has said the government would do everything in its power to maintain stability and keep inflation low.

- The British economy grew by 3% last year, but will this year grow from 1.75-2.25%, Mr Darling said.

- To provide certainty, the chancellor said he is writing to the governor of the Bank of England to keep a 2% target on inflation.

- From April 2008, key workers such as teachers and nurses, will be able to borrow money from shared equity schemes.

- Stamp duty on shared ownership homes will not be required until people own 80% of their home.

- The Chancellor said that more people should have the chance to have a long term fixed mortgage quoting a report that showed that long term fixed rate mortgages can reduce the risks for first time buyers and can keep them on the housing ladder.

- Sites for 70,000 more houses have now been identified, Mr Darling said.

- From October 2009, rules for housing and council tax benefit will mean that families on benefit will be better off in work.

- On the environment, £26m will be made available to help make homes greener.