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Wednesday, 24th March 2010

A reassuringly dull budget

Fraser Nelson 4:09pm

This was a surprisingly subdued Budget, and for that Alistair Darling is to be commended. He must have resisted all manner of pressure from Brown to put in pre-election pyrotechnics. But the budget was what it should be: a punctuation mark on the sentence of the national economy. That sentence says "our finances are going to hell," and the Budget's high point is that we are doing so fractionally slower than we were expecting to last November.

Personally, I forgive Darling all the partisan stuff in his speech - this is a pre-election Budget after all. There is no act of wanton vandalism, like the 50p tax. Stamp duty on properties over 1m is rising from 4 percent to 5 percent, but does anyone seriously think this would not have happened under the Tories? And there was quite a bit of sense. Entrepreneurs’ tax relief for capital gains tax was doubled to £2 million. There was no extra splurge. All told, Darling did what he could to salvage his own reputation before he passes into history as the Chancellor who picked up the most poisoned of all chalices from his predecessor. The damage over the past decade could not be rectified or even cosmetically repaired at this five-minutes-to-midnight moment. He didn't spell out the extent of the cuts that are in prospect - but, even now, no party dares to.

It was a reassuringly dull Budget, and very different to the one Ed Balls would have delivered had he taken over last June as he wanted to do. Don't get me wrong, I think Labour's mishandling of the economy is near criminal. But unless there is something buried so deep in the Red Book that I haven't seen it, then it is as benign a budget as we could have realistically hoped for under the circumstances.

Filed under: Alistair Darling (198 more articles) , Budget (194 more articles) , Debt crisis (83 more articles) , Election 2010 (599 more articles) , Gordon Brown (918 more articles) , Labour (2143 more articles) , UK politics (5407 more articles)

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ssleddon

March 24th, 2010 4:19pm Report this comment

It was the Budget of a man who knows he's out of a job in a few weeks, whatever happens. Darling does come over as a pretty decent sort, and he clearly didn't want his last major deed to be one he would come to regret.

Cameron was on excellent form today with his response, I thought — quick-witted, focused, aggressive, and fluent.

Yosemite Sam

March 24th, 2010 4:20pm Report this comment

Partisan stuff about policy differences - OK. Partisan stuff about an individual: in a budget speech! That must be a new low even for New Labour. I expected better from Darling.

paul holdstock

March 24th, 2010 4:24pm Report this comment

seems like labours' 97 election tune,
was mis-heard by the nation.
it really said, " things will mostly get bitter".

Ben Wright

March 24th, 2010 4:26pm Report this comment

Is anybody surprised by the sheer dullness of this budget!?

Summed up by regressive taxes on cider instead of dealing with the real issues. Whatever happened to the mantra of 'prudence' so often repeated in 1997?

What we really needed from this budget was some long-term thinking to prevent huge rates of public borrowing to halt the current ridiculous 25% of government spending being borrowed.

When borrowing stands at £170bn we need real action. Our politicians fail to give any answers on how to stage a reduction in government borrowing over the next few years.

The Jury Team have set out the need to limit borrowing to 10% of total spending. http://www.juryteam.org/p02-govt-borrowing.php

This gives the only real chance of long-term, lasting reform.

The budget is an area where we should be given a say. That's why Jury Team are committed to allowing the people to have their say through referendums on policies if backed by 5% of the electorate. http://www.juryteam.org/p16-citizens-referendums.php

This is the kind of change we really need!

Now all we need is the electorate to register their vote for change on May 6!

Tankus

March 24th, 2010 4:32pm Report this comment

Its the partisanship that sticks in the mind over the drone ...and degrades the whole !

Camerons best ever response , and it hit home as the anger in Gordons face was manifest

Richard Manns

March 24th, 2010 4:32pm Report this comment

I suspect he'll go down as a Healey; trying to fight his corner in power, and then washed away by the hard-left torrent post-election.

If he replaced Brown, Labour might have a shot at 2014/5. But I doubt the Brownites and UNITE crew will let him near it.

chris as usual

March 24th, 2010 4:41pm Report this comment

This damp squib of a budget makes one feel very tired and depressed. They have completely wrecked the economy and have landed us with a debt, even before we start taking into account the 'off balance sheet' stuff like public sector pensions, of mind boggling proportions that no politicians can comprehend how to deal with it in a way that they dare share with the public.

It seems to me that there needs to be a massive clear out of those responsible and some sort of a new dawn which offers a vision for the future which people, particularly the young, can connect with.

I think this should start with an election campaign about trust, honesty and transparency. It is obvious that the average standard of living is going to fall substantially, and how this is to be shared by the whole population in a fair way will need to be explained.

I am very worried.

Senor Frizby

March 24th, 2010 4:43pm Report this comment

Not that dull if you're from Cornwall. 10% cider duty will put the squeeze on one of the appliest counties in Britain - more discrimination from the Scottish mafia.

Richard

March 24th, 2010 4:45pm Report this comment

The markets seem to like it.
What would Oik and Co reverse?

Tom Burroughes

March 24th, 2010 4:57pm Report this comment

I thought Darling was pretty dignified and although he goes along with the nonsense about how much of the trouble was out of his hands, he made some decent points. The trouble is, much of the damage has been done.

Michael Booth

March 24th, 2010 5:06pm Report this comment

What I don't get it, anyone who mismanaged a company's finances like this would be facing criminal proceedings - so how come a government can wreck the nation's finances and face no retribution other than a (possible) thrashing at the polls? Why aren't successive chancellors held personally responsible?

ROBINA bull

March 24th, 2010 5:06pm Report this comment

Reassuringly dull! No.. a mini manifesto and an attempt to conceal the failure to correct the essence of the credit crunch...the banks' failure to lend. Base rate at zero and a first time mortgage rate of 6% if you can get it. Hypocrisy.

teledu

March 24th, 2010 5:10pm Report this comment

The arrogant sneer on Brown's face as Cameron made his reply is vomit-inducing.
What an ignorant so-and-so Brown is.

Chris lancashire

March 24th, 2010 5:11pm Report this comment

So that's the Plan then. Sell the Dartford Crossing to solve the National Debt.

Billy Blofeld

March 24th, 2010 5:12pm Report this comment

"He didn't spell out the extent of the cuts that are in prospect - but, even now, no party dares to"

It is also near criminal that Darling didn't spell out what the cuts would be before the election.

Ian C

March 24th, 2010 5:22pm Report this comment

The important thing is that Cameron was v. effective in response and GB looked as uncomfortable as he did when Daniel Hannan ate him for breakfast in the Euro Parliam't.

Game on.

Fox in a box

March 24th, 2010 5:46pm Report this comment

You just don't get it do you, Richard?

I don't know why you post on here? Nobody else takes a blind bit of notice of your drivel - you clearly either just like the sound of your own voice or are a labour activist.

You should grow up and reflect on what the Labour Government have done to this country in 13 years of power. Living standards are going to decrease for the first time in living memory.

Your arrogance is that of one who has been enjoying a "free ride". You should be careful because your circumstances may be about to change.

Thomas Cussans

March 24th, 2010 6:07pm Report this comment

The look of sheer venom on Brown's face this afternoon towards the end of Dave Boy's exceptionally effective reply – crisp, exact, precise – says everything you need to know about the strange, warped, self-regarding and very, very nasty Brown.

In place of the faux, bored amusement – a colleague regaled, a fake smile assumed, a note scribbled, a gnat brushed aside – we saw the real thing: a vast, barely controlled pulse of hatred, an upwelling of loathing.

Brown is now as close to certifiable as makes no difference.

How I look forward to his final humiliation.

daniel maris

March 24th, 2010 7:02pm Report this comment

Whoever came up with that label "Jury Team" is no politician.

Brown as a volcano of hatred - yes, always seemed that way to me.

Labour responsible for decline in living standards? Hmmm...let's be honest they had a pretty good financial record, better than Major's up until the recession, if real income is all you are interested in.

James L. did well here in an article explainign the difference between the deficit and the debt. Shame Cameron and co. up till now (haven't heard his budget speech) haven't explained it as well. Brown is dishonestly claiming to be "paying down" the deficit whilst increasing our debt.

If I was a Tory Leader I would bash on about that. And I would bash on about how other countries in Europe are doing much better. That would do a lot to dispel the confusion deliberately caused by Brown and co. (the recession always starts in the USA doesn't it when they tell the story?)

However, Cameron and Osborn continue to give a strong impression they are going to attack ordinary people's conditions of employment if they get into government. That is a HUGE mistake. It is what led to their stumble in the polls and it could still do for them in the election campaign if that opinion is reinforced.

Major Plonquer

March 25th, 2010 2:56am Report this comment

Dull - my arse. This is a BRILLIANT budget from Darling. As usual the press are just too slow to see the real implications.

A quick calculation will show that if every man, woman and child were to drink only 5,600 pints of cider in the next year the resulting tax windfall would eliminate the deficit. That's just slightly over 10 pints of cider day per person.

So balancing the budget is easily within our grasp - although admittedly actually balancing might be difficult when we're done.

After a year of this we'd have the deficit under control and then we can start to work on the debt. Then again after drinking 10 pints of cider every day for a year, I don't think anyone will give a damn.

C'mon people. This is DO-ABLE - thanks largely to Labour allowing pubs to stay open 24/7. See - they even planned ahead.

Major Plonquer

March 25th, 2010 3:02am Report this comment

UPDATE: Sorry, but due to an overestimate of potential immigrants who might arive in the UK (which might decrease if we see a BNP elected government) I've had to readjust my figures.

The actual number of pints of cider each person will have to drink each year is not 5,600 but its actually closer to 28,000 in order to eliminate the deficit.

However, this can be compensated for by an incoming Tory government who will introduce 21% VAT on food. This will result in an unexpected tax windfall on all the crisps we're all going to have to eat while drinking all that cider.

James Thompson

March 25th, 2010 6:43am Report this comment

Sorry but Balls and Darling would have done the same budget Fraser. They want to appeal to everyone. Labour are not even Labour anymore remember - they are New Labour. Which means they are nearly as far to the right as the Conservatives. Cameron's appalling interview with the Gay Times shows the Conservatives are as far right and non-progressive as ever on social issues.
I think the Conservative press are having a laugh when they say "budget hits middle classes hard" Since when did earning 150K a year and having a 1 million pound home encompass the whole middle class?

Hugo van Randwyck

March 25th, 2010 9:40am Report this comment

@ Ben Wright, maybe if the Jury Team explained how the economy would grow faster with a 'Yes' vote for EFTA in a referendum EFTA or EU? this would help get many more votes for newer parties.
The key is faster growth, and that includes un-linking with the EU, same way the UK recovered quicker after the last housing bubble, when Britain casme out of the ERM. A reduction from 1000 new regulations a year, with the EU, to only 300 new regulations a year with EFTA, would be like a tax cut to business.
www.efta.int
Use what has already worked, and get lots of votes :)

Frank Leader

March 25th, 2010 11:14am Report this comment

The National Debt will increase to £1.74 trillion pounds by 2015! How will this reduce the deficit over four years.

As Labour always likes to be fair, Gordon Brown said this only the other day. I would suggest that they do the same kind of thing for their very own Non-Dom. Privy Councillor Lord Paul. As they have done to Lord Ashcroft. He has drawn expenses whilst in the Lords. Lord Ashcroft hasn’t.

Mr. Timms a Labour Treasury Spokesman when asked a specific question on the sums involved. Stated he hadn't got the figures to hand. He knew, however, that the borrowing by 2015 would be 75% of the Gross Nation Product. As no one knows what the GDP will be is 5 years time and as he didn't know the sums involved. How could he possibly know this.

Yarnesfromhorsham

March 25th, 2010 12:06pm Report this comment

Frase - whilst speaking with my solicitor this morning he stated that if a "first time buyer" had previously owned a carvan or boat, anywhere in the world, then they were excluded from being considered as FTBs. Can this be true? If it is - so much for Labour assistance.

Nick

March 25th, 2010 5:23pm Report this comment

Cameron was on excellent form today with his response, I thought — quick-witted, focused, aggressive, and fluent

===========================================

"quick-witted, focused, aggressive, and fluent"

Dear me. An un-partisan person would have described it as a "lip quivering" rant!

Cameron did himself no favours. Leaders need to be statesmanlike to hold the centre ground, and win majorities.

However much his bottom lip quivering, tears in the eyes, rant pleased his core vote, it probably turned off just as many people.

Say what you like about Darling and Brown. Or Clegg and Cable. They remain statesmanlike, no matter the provocation.

They rarely rant, or scream, or moan, or make speculative accusations.

Sorry tory voters. Reminds me of the "we won the cold war" sort of thing. Cameron has a tendancy to crack, rant, and make a fool of himself, with the slightest provocation.

Every bit the immature leader that most people probably fear.

Cameron and Osborne, were warned by their own party press offices to try to approach things with a statesmanlike demeanor.

They did OK for a few months. Now you have Cameron ranting on about thatcher, lying, unions and crossing picket lines, and he's wondering why he's slumping in the polls.

Again. Ranting pleases core support. It does little but show immaturity to everyone else.

Darling came out of the budget looking very statesmanlike.

Cameron came out of it looking like a besmirched toff, who thinks he has a right to rule.

Chris

March 25th, 2010 5:28pm Report this comment

The look of sheer venom on Brown's face this afternoon towards the end of Dave Boy's exceptionally effective reply – crisp, exact, precise – says everything you need to know about the strange, warped, self-regarding and very, very nasty Brown

===========================================

Brown was snearing, as Cameron's response was little more than a bottom lip quivering rant.

I realise that this please core tory voters, but the vast majority of the electorate tend to want statesmanlike behaviour from potential leaders.

Cameron's fallen into a few Labour traps recently in this regard.

When he should be answering a statesmanlike darling, with a response befitting of a future prime minister, he's ranting on like Ian Paisley

Again. Tories will love it. Rest of the electorate would have thought it demonstrative of his general immaturity and lack of experience.

The guy needs to remember that he wants to be prime minister. And get a grip when faced with adversity.

Not crack up, like he has for the last few weeks

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