A vote winning Budget? This was certainly not a giveaway Budget, more a case of a few sweeteners and the hope that voters will stick with the devil they know.
The Chancellor found a few glimmers of hope with a forecast of reduced borrowings of £1.67b (£11b less than the forecast in December) and the one off tax on banking bonuses has produced twice as much as anticipated. Growth in the economy is predicted at 1% - 1.25% for 2010.
Income Tax rates/allowances, IHT and CGT and Excise Duty were broadly in the line with the pre-Budget Statement and expectations although there was a doubling of Entrepreneurs Allowance. Leaving VAT at 17.5% was welcomed.
There was an assortment of packages to try to boost the economy and bank lending. It remains to be seen if they will be given an opportunity to test them.
First time buyers have been given an exemption from SDLT on purchases up to £250,000 but the tax on property over £1m goes up to 5%.
There were a few sweeties with increases in Winter Fuel Allowances for a further year, a £4 rise in Child Tax Credits in 2012, increases in ISA allowances to £10,200 for all and £385m to patch up the holes in the road.
But it will take more than a bucket of tar to mend the economy.
Budget Report 2010
