Radical changes to ISAs have been announced as one of the major headlines in the Budget today.

Plans for a “single clear definition of financial advice” have been outlined in the Budget today.

A new pensions body is to be created as a part of a shake up that includes creating a ‘slimmer’ Money Advice Service.

Chancellor Osborne will raise the higher rate threshold by more than expected from £42,385 to £45,000 from April 2017.

The new Lifetime ISA could be used for “other specific life events” apart from buying a first home and for retirement.

Chancellor George Osborne, in an annual Budget ritual, announced a series of measures to crackdown on both large and small tax loopholes.

The Lifetime ISA has been attacked as a ‘gimmick’ and a ‘competitor’ to pensions - less than two hours after it was revealed.

Tax-cutting measures to boost enterprise and company investment were high on Mr Osborne’s priority list in this year’s Budget.

The Chancellor has warned of a “dangerous cocktail of risks” facing the world economy.

The Government’s latest Budget is set to be announced this afternoon and you can follow it all right here.