Why Britain’s predicament is so bad
Fiscal deterioration in the UK and declines in manufactured output in Germany and Japan are two sides of one coin, writes Martin Wolf
ARCHIVED
UK Budget 2009
Resources
More in this section
MPs slam ‘unrealistic’ Budget forecasts
Labour-controlled Treasury select committee attacks government predictions that the recession will end this year and questions the effectiveness of the new 50% top tax rate
Darling insists growth will return
UK chancellor reiterates forecasts
Related content and features
Comment & Analysis
A chancellor flying on a wing and a prayer
Only Alistair Darling, most emollient of politicians, could manage to make this Budget seem boring. The economic figures make a horror story. However it could, of course, be even worse, writes Martin Wolf
Tax distraction
New top rate of UK income tax must not dominate debate
Cameron in sight of Number 10
The grim realities of this economic mess will imprison for at least a parliament whichever party wins power, writes Philip Stephens
Final full stop to era of good times
In a curious way, the significance of Mr Darling’s grim litany of bad news lay more in its description of the economic and political straitjacket that awaits whoever takes the helm in Downing Street after the election, says Philip Stephens
Too frail and vague to shore up credibility
Plan to raise the top rate of income tax exemplifies the Budget’s tactical nature
Video
More videos
Darling’s ‘pale green Budget’
Ed Crooks on new energy measures
Philip Hammond
Darling presents ’optimistic forecasts’
Vince Cable
Darling’s Budget ’dishonest’ on growth forecasts
Philip Stephens
Conservatives gain confidence after Budget
Matthew Vincent
Paltry pickings for savings and borrowers
George Parker
Political editor discusses what is behind the startling rise of public borrowing
More stories
High earners left with few ways to avoid 50% tax
High earners are advised to transfer assets and boost pensions
Isa top-up rates may falter
Older savers could receive a lower interest rate than on their existing balances
Tax quirk results in 60% rate for some
Individuals may see a significant increase in their tax bills next year
Green funds set to enjoy increased investment
Darling announces “first-ever carbon Budget”
Top tax rate starts next week for some
Lawyers and accountants to be hit
Data cast doubt on chancellor’s forecasts
Worst performance since the third quarter of 1979
Warning of City exodus over 50p tax rate
Move criticised as populist gesture
Focus on capital gains set to sharpen
A surge in tax planning is likely to be triggered by the rise in the top rate to 50 per cent
Think-tank casts doubt on fiscal forecast
Reform could actually cost the government money
Repairing the deep hole in public finances will take years
So bad are the public finances, that a British peace-time government has never before planned to borrow so much
Wealthy left to lick their wounds
High earners were dealt a double blow in the Budget
Pension providers warn of unintended consequences
Reduced tax relief will make other investments more attractive
Beaten-up motor rolls off to the junkyard
Labour has jolted over too many potholes, says Jonathan Guthrie
IFS fears ‘two parliaments of pain’
More than 20 years needed to pay off borrowing
City worker hotspot finds little to cheer
Tax plans fail to rally Labour supporters
Conservatives wary of Labour ‘trap’
Signs of discord in Tory ranks
Services face biggest cuts in over 30 years
Public sector recession set to last a decade
Looking to local people to target scarce funds
Aim to persuade front line staff to improve efficiency
1,000 homes ‘for 5m people on waiting list’
Sector faces uphill struggle to increase output
Gilts fall on growth worries
Yield on UK 10-year note hits 3.51%
