A boxed-in chancellor delivers a Budget of small sums

Mar 12: Discussing Alistair Darling's first Budget, Chris Giles, FT economics editor, says it is the tail of tax revenues which have been wagging the dog: with £7bn less in tax revenues, the public finances are tight and could get worse. He tells Richard Edgar of FT.com it is a Budget of small sums, with its most eye-catching measure the steep rise in alcohol duties.