Reality Check

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Remember the Help to Buy ISA, launched in Budget 2015? It offered a 25% government top-up on savings for first-time buyers costing up to £250,000 outside London and £450,000 in London.

It was originally predicted to cost the government £700m by next April, but only £77m of payments were made in the first 20 months of the scheme. The OBR now expects it to cost just £110m in the whole of 2017-18.

And the Lifetime ISA, which offered similar top-ups for retirement savings or house-buying savings, has had its predicted cost to government cut by 40% after a "sluggish" start.

BBC

The Office for Budget Responsibility has changed the amount it expects the government to raise from the soft drinks industry levy - a tax on drinks with lots of added sugar - which is supposed to be introduced next April.

The OBR had previously said it would raise £520m in the first year, but has now cut that to £275m.

The reason? Apparently market research firm Mintel overestimated the level of consumption of such drinks being consumed in pubs, restaurants and cafes.

BBC

If you’re buying a house for £200,000 you will currently pay £1,500 in stamp duty. From midnight tonight, if you’re a first-time buyer, you will pay nothing.

However, the Office for Budget Responsibility predicted that would increase house prices by an average of 0.3% by this time next year.

That means a £200,000 house will become £200,600. So you might save £1,500 in stamp duty but that saving will be reduced to £900 because you’re having to pay more for the property.