UK Budget 2008 - Economy
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Special features
Initiative looks to unblock mortgage markets
The Treasury unveiled a new consultation on market-led solutions to the crunch in wholesale mortgage markets. The proposals include private sector insurance products to encourage homeowners to borrow at fixed interest rates for longer terms
Lex: Three is the magic number
The risk of a sharp and sustained downturn in the UK is real enough. If it does happen, Alistair Darling’s £3bn margin for error will look terribly small.
Treasury looks to reduce N Rock debt to £14bn
Figures show the government is planning to refinance Northern Rock’s loan from the Bank of England this year by issuing more government bonds.
Darling cuts growth forecast
Alistair Darling signalled that the British economy is at the mercy of events in the financial markets as he unveiled a modest maiden Budget, ratcheting up borrowing and raising taxes on drinkers, motorists and business to bolster the public finances
Islamic stamp levy loophole closed
A loophole allowing commercial property investors to avoid paying stamp duty on an estimated £1bn of deals was closed in the Budget
It's time for letting the buyer beware
As the pound falls, food costs rise and house prices tails off, Norma Cohen asks how a slowdown might affect consumer spending
Martin Wolf: Debutant banks on brighter future
The chancellor used the new watchword ’stability’ 23 times. ‘Prudence’, however, never crossed his lips. This is a telling shift, writes Martin Wolf
Dark clouds over Treasury
Economists recognise that the debate on the fiscal rules which obsesses the Treasury is pretty sterile, leading to what Peter Spencer of the Ernst & Young Item club describes as the process of "making the numbers fit the constraints".
Experts sceptical on growth forecast
In the face of a clearly slowing economy, Alistair Darling presented a forecast for growth that economists said was about as upbeat as possible without straining his credibility
End to tax loopholes set to net £600m
Tax avoidance came under renewed assault, with a strengthening of the disclosure regime for tax-planning schemes and a closure of loopholes that will raise more than £600m next year
