Budget 2008: Darling fails to inspire

Chancellor Alistair Darling’s first budget failed to inspire as he reported increased public borrowing and falling growth rates.

On inflation, the chancellor reaffirmed a target of 2% based on the consumer price index, but hit the usual victims of increased taxation, booze, cigarettes and petrol-guzzling cars.

He also announced an additional £7bn of borrowing in the coming tax year over the Government's October estimates, up from £36bn to £43bn.

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