Budget 2014: What You Need to Know IBTimes UK

George Osborne's Budget 2014 was all about the "doers, makers and savers" as he unveiled a series of crowd pleasing measures over pensions and other forms of personal finance.

As well as painting a rosy picture over UK economic growth over the next two years, Osborne revealed how lower spending will also end up saving families £2,000 a year, due to a reduced deficit.

Savers received a pleasant surprise after Osborne unveiled a range of radical pension reforms that will change the way workers retire in the UK, including removing compulsory annuities.

On top of that the annual tax-free limit on ISAs will be dramatically increased to £15,000 a year.