Financial Times FT.com

UK Budget 2008

Lex: Three is the magic number

Published: March 12 2008 14:26 | Last updated: March 12 2008 14:26

Alistair Darling’s first budget had one main aim: to ensure the government, in spite of an economic slowdown, avoided breaching its fiscal rules. In this aim he has succeeded, but the margins for error are ridiculously small.

Forecasts slip again, and still assume buoyant tax receipts

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