Budget 2008

Alistair Darling delivered the 2008 Budget on Wednesday March 12th.

After the ten years of economic growth enjoyed by his predecessor, the chancellor delivered his first comprehensive economic policy amid a tighter global outlook.

Mr Darling set out a Budget designed to maintain stability in the UK economy, and did little to break away from Gordon Brown's tenure at the Treasury.

The Treasury claimed the budget would help further the government's ambition to cut child poverty, will also providing environmental incentives.

Measures including capital gains tax and inheritance tax have been subject to terse debate throughout the last six months, with the government seemingly reacting to Conservative policies.

Despite looming large in the run up to the 2008 Budget, the recent nationalisation of Northern Rock received scant mention by the chancellor.

As expect, Mr Darling refrained from announcing sweeping tax cuts, instead opting to raise revenue by increasing taxes on alcohol and cigarettes.