'And I commend this Budget to the House'. With this well-known phrase the Chancellor closed the last Budget of this Parliament and the 14th since Labour came to power in 1997. It was one that many had predicted to be a 'phoney Budget' given the lack of time for any measures to be delivered before the election. Yet even in these circumstances the Treasury delivered a 228-page so-called 'Red Book' 40 pages of press releases and 161 pages of Budget Notes.
Looking at the Budget in summary the Chancellor has managed despite his earlier protestations of 'a workmanlike Budget' and little scope for tax breaks to produce a net giveaway of almost £ 1½bn for 2010–11. Furthermore that is after netting off almost £400m extra receipts from anti-avoidance announced in the Budget.
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'And I commend this Budget to the House'. With this well-known phrase the Chancellor closed the last Budget of this Parliament and the 14th since Labour came to power in 1997. It was one that many had predicted to be a 'phoney Budget' given the lack of time for any measures to be delivered before the election. Yet even in these circumstances the Treasury delivered a 228-page so-called 'Red Book' 40 pages of press releases and 161 pages of Budget Notes.
Looking at the Budget in summary the Chancellor has managed despite his earlier protestations of 'a workmanlike Budget' and little scope for tax breaks to produce a net giveaway of almost £ 1½bn for 2010–11. Furthermore that is after netting off almost £400m extra receipts from anti-avoidance announced in the Budget.
This is...
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