Key measures of the budget will affect young people and families with an additional £40bn in savings coming from welfare reform. The chancellor says that policies in  will not have a significant affect on child poverty over the next two years. The coalition states that every part of society will have to make a contribution to efforts to tackle the deficit but emphasises the government's stated intention to target support at the most vulnerable, in particular children and pensioners. How will it affect you?

Average real cut of government spending by 25%

NHS spending protected

Reduction in tax credit eligibility for families earning over £40 000

Child benefit frozen for three years from April 2011

Health in pregnancy grant cut from January 2011

From 2011-12 lone parents whose youngest child is over the age of 5 will be required to work