George Osbourne unveiled his eighth Budget as Chancellor of the Exchequer today, but what does it mean for Londoners?

One of the headlines of the hour-long speech, in Parliament at Westminster this afternoon (March 16), was a tax on sugary soft drinks to tackle childhood obesity.

The £530million money raised will be put towards sport in primary schools.

The Government also plans to turn all state schools into academies, meaning they are independent of local authority control, by 2020.

They will also have a chance to have longer days.

Cuts in public spending are continuing, with an extra £3.5billion to come by 2020.

But there is good news for drivers as it was announced fuel duty will be frozen again, saving the average driver £75.

At the same time those who enjoy a tipple will be relieved as beer duty will also be frozen.

Government funding to start the Crossrail 2 rail line from north to south London was also rubberstamped.

For higher paid workers, the rate at which they start paying top rate tax is to be raised from £42,385 to £45,000 from April next year.

The tax-free personal allowance for all workers will be raised to £11,500 next year and for savers a new lifetime ISA for the under-40s will be introduced with Government to contribute 25 per cent.

While for businesses there was also some good news.

Corporation tax will be cut to 17 per cent by April 2020.

Reforms to business rates will mean 6,000 small businesses pay no rates and 250,000 have their rates cuts from April 2017.

From April 2017, the Greater London Authority (GLA) will get powers to set and retain these business rates.

Labour leader Jeremy Corbyn described Mr Osborne's Budget as “unfair” and "the culmination of six years of his failures".

He added that the Budget gives tax cuts to the wealthy while disabled people lose more than £1billion.

But he was supportive of the sugar tax, which will not apply to fruit juices or milk-based drinks, which will be introduced in two years.