Chancellor sits down.
1.22pm: Winter fuel allowance up from £200 to £250 Nine million pensioner households will be better off.
1.20pm: Above inflation increases on alcohol announced. 4p on a pint of beer.
1.19pm: 11p increase in duty on a packet of 20 cigarettes.
1.16pm: Transport accounts for a third of our carbon footprint. Aviation duty will rise 10%. From 2009 vehicle excise duty will be radically reformed. Cars emitting less than the 100g European emitting standard will pay no duty in the first year but a higher rate will be introduced for those emitting more in the first year.
1.14pm: Legislation will be used to discourage single use plastic carrier bags if voluntary action does not end their use. Money raised will go to green charities.
1.10pm: Will investigate how Britain can move to an era where long-term fixed term mortgages are the norm.
1.05pm: Confirmed investment plans for Crossrail. Stated that more capacity is needed on our roads. Money will be set aside to investigate possibilities for a road pricing scheme.
1.03pm: £10m for the next three years to provide access to high quality development training for science teachers.
1pm: From April non-dom taxation plans will be introduced and there will be no further changes to that taxation regime in this parliament or the next.
12.57pm: £60m extra borrowing aid for small firms.
12.55pm: Promise of voluntary and statutory action to help 5 million electricity customers who overpay because they pre-pay.
12.54pm: Long section on child poverty with targeted assistance via housing benefit and tax credits.
12.51pm: The focus of the last ten years has been repairing underinvestment in public services. The next ten years will be about delivering world class public services.
12.50pm: £30bn of annual savings have been identified by departments from 2010 that will be reinvested in public services.
12.46pm: Spending grew by 3.4%pa on average from 1997 but now will grow by 2.2%pa.
12.42pm: Lots of Tory laughter as Chancellor says that borrowing picture is good.
12.41pm: Scheduled petrol rise delayed until October.
12.40pm: Darling repeats lie of £10bn unfunded Tory promises. Rebutted here.
Inflation: Reaffirmation of 2% CPI target.
Growth forecast: 1.75% to 2.25% next year.
Budgets are fairly boring at the best of times, but THIS budget, so far!!! Is not so much a budget as a propaganda exercise! Darling Mr. Darling has ONE figure stuck in his brain - 1997, and although I am not listening at the moment - because I am here, everytime I go back to the TV, up comes 1997 AGAIN. It seems to me that as RPI's, and the cost of living, and houses prices go up and down between now and 2097, that everytime Labour get to power 1997 will be the buzz number, never to be forgotten!
Whatever happened to all that enthusiasm, and all those bright shiny PROMISES????????
Posted by: Patsy Sergeant | March 12, 2008 at 13:04
"1.05pm: Confirmed investment plans for Crossrail. Stated that more capacity is needed on our roads. Money will be set aside to investigate possibilities for a road pricing scheme "
Implicit in this is yet more money for his own Scotland because under the Barnett Rules any capital expenditure in England (Crossrail)causes about 10% of the sum to be spent in Scotland .
Why? Er ,its the Barnett Rules you understand .
( only ever works one way of course )
Posted by: Jake | March 12, 2008 at 13:28
There were four highlights:
1) Dave kicking Ed in the Balls
2) Dave kicking Ed in the Balls again
3) Ken Clarke kicking Ed in the Balls
4) Jack Straw doing this:
http://therightstudent.com/2008/03/whats-up-with-jack-straw.html
The rest was the usual shower of Labour drivel. Dave was sharp today- a pleasant change from last year's cockup.
Also, the rapid rebuttal unit are doing their work beautifully today! Well done all.
Posted by: Martin Coxall | March 12, 2008 at 14:11
Very well said, Patsy! As for the carrier bag thing - bl**dy cheek!!!!
Posted by: Sally Roberts | March 12, 2008 at 14:29
They are trying very hard to rewrite history and misrepresent the 18 Tory years as one long financial failure between two periods of Labour financial success.
- He who controls the past controls the future.
Posted by: Deborah | March 12, 2008 at 14:37
Darling seems to have a rather unhealthy interest in the last Tory Chancellor, constantly referring to him, is it love/angst for what has been squandered?.
Posted by: George Hinton | March 12, 2008 at 14:53
How about the £30Bn of savings being used to reduce the Chancellors rising debt - That would be prudent
Posted by: Alan.S | March 16, 2008 at 18:59