UK Budget, March 21 2007 - Politics
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Brown backs Tories into corner
The chancellor’s camp is shrugging off allegations of a ‘tax con’, confident this was a Budget that poses significant problems for David Cameron.
Tories denounce ‘tax con’
The Tories accused Gordon Brown of offering a ‘tax con not a tax cut’ in his last Budget, but refused to be drawn on whether they would reverse any of the changes when in government.
Giving with one hand, taking with the other
The cut in the corporation tax rate, by 2 percentage points to 28 per cent, was hailed as an important step in improving Britain’s competitiveness.
Asset sales and administrative cuts at the ready
Asset sales, efficiency savings, and big annual cuts in the administrative budgets of government departments were deployed by the chancellor to underpin his public spending plans
Education to receive 2.7% increase
Education learnt its fate for the three years up to 2010, so leaving defence, health and environment as the only three big-spending departments still on tenterhooks
Drivers of ‘gas guzzling’ vehicles face tax increase
Drivers of ‘gas guzzling’ vehicles bore the brunt of a green-tinged package of road tax and fuel duty rises that will see the Treasury pocket a billion pounds in revenue.
R&D tax credit increase welcomed
A more generous tax credit for research and development spending will be worth an extra £100m a year to industry, the chancellor said.
