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The Budget - 22 June 2010
June 2010
Chancellor of the Exchequer George Osborne delivered his first Budget less than three months after the final Budget of the last parliament. The Conservative Party had promised an ‘emergency’ Budget during the election campaign, with a view that quicker action was needed to bring down the UK’s record budget deficit. While the recession officially ended in the last quarter of 2009, recovery has been sluggish and Mr Osborne, together with his coalition partners from the Liberal Democrats, has had to balance the need to raise taxes and cut spending with the dangers of provoking a ‘double dip’ recession.
The Budget 2010
March 2010
Chancellor of the Exchequer Alistair Darling delivered the last budget of this parliament at a time when the focus has shifted slightly from tackling the recession to how to deal with the large amounts of debt built up in doing so. While the economic data over recent months has been decidedly mixed, most economists agree a recovery of sorts is under way for now, although some fear the economy could slide back into recession unless a credible plan for dealing with the budget deficit is presented. With a general election only months away, normally a ‘giveaway’ budget could be expected, but the state of the public finances has largely prevented this.
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