Darling announces March Budget
By politics.co.uk staff
Alistair Darling has confirmed that he will publish a Budget in March, killing election speculation.
The announcement is the final nail in the coffin for talk of a surprise early election. It is now all but certain Britain will go to the polls on May 6th.
Speculation late last year suggested Labour may try to avoid a Budget, which could have the effect of reminding voters of the dire economic straits the country finds itself in just before the election.
Speaking in Edinburgh, the chancellor said the Budget would include a “strong platform” for growth and jobs, as well as details of the UK’s deficit reduction plan, which he described as the “most ambitious of any G7 country”.
The government aims to halve the deficit in four years.
In his last Budget, the chancellor brought forward the introduction of the 50% top rate of tax for people earning over £150,000 by 12 months.
He also unveiled changes to the annual tax-free allowance for individual savings accounts, raising it from £7,200 to £10,200.
