George Osborne has delivered his eighth budget - saying his measures would bring stability to the economy and safeguard the interests of the next generation.

As usual, many of the announcements had been heavily trailed before but there were still a few surprises - notably the news of a “sugar tax” to be introduced in 2019.

Mr Osborne said that the levy would raise £520m that would help investment in school sport.

He said he was not prepared to stand by and do nothing while rates of obesity among children were spiralling.

The Chancellor told the Commons that he was “not prepared to look back… and say we ducked the issue" of childhood obesity.

The budget offered incentives to businesses by way of a further cut in corporation tax, which will fall to 17% by 2020.

At a glance:

• Corporation tax cut to 17% to help small businesses

• "Devolution revolution" as local authorities keep more money

• Every school in England to become an academy by 2020

• New sugar tax on soft drinks to protect children's health

• Duties on fuel, beer and cider frozen

• New "lifetime ISA" to encourage under 40s to save for retirement

• Capital gains tax cut from 28% to 20%

• Increase in tax-free personal allowance to £11,500

• Raise to threshold for paying 40p tax to £45,000

Faversham and Mid Kent MP Helen Whatley, a member of the Commons health select committee, welcomed the news but said she also wanted to see drinks and other products have much clearer labelling.

"It is something I support. It [sugar levels] is a very important issue as some of the drinks have a huge proportion of sugar in them that people just don't realise. The drinks industry will be incentivised to reformulate their products and I don't think it should come as any surprise to them."

At a time when school budgets were tight, many would welcome the extra money generated by the levy to provide more sporting activities, she added.

Simon Warne, partner at Maidstone-based accountancy Crowe Clark Whitehill, said: "It is clear there is political will to tackle obesity and this tax is a statement of intention.

"However, companies in the food industry will be wondering what this means. It's a whole new tax which can't be rushed through."

There was next to nothing in terms of explicit commitments for Kent and the news that the government is to halve tolls for motorists on the Severn Crossing in Wales might irritate users of the Dartford Crossing.

County education chiefs have already slammed a move to make every school an academy.

Cllr Roger Gough, Kent County Council's cabinet member for schools, questioned the value of converting all schools to academies.

He said it was unclear what role the authority might play in terms of school improvement.

"I approve of the principle of schools having freedom, that is a good thing," he said.

"But where I object is where it is forcing schools to become academies. That seems to go against giving schools freedoms and that is where I part company."