Budget 2010: Responsibility without risks
Alistair Darling has delivered a measured Budget that took no risks with the recovery and showed that the Government’s handling of the recession is working.
Better than expected tax income and lower unemployment has given the Chancellor scope to extend the jobs guarantee for young people and provide some extra money for tackling poverty. Support for business, a green investment bank and for industrial policy are welcome steps in rebalancing the economy away from finance.
The TUC welcomes the decision to maintain this year’s planned increase in spending, but there are real concerns that cuts planned for future years will damage public services.
Instead the Chancellor should have put more emphasis on raising tax from those who benefitted most from the boom years, through a Robin Hood Tax on financial transactions and limits on tax breaks for the rich.
So overall, this was a good Budget. The Chancellor not just acted responsibly, but with a real sense of social justice and the need for government to help create a better, fairer and more sustainable economy.