UK Budget 2009 by Alistair Darling 22.4.2009

Chancellor Alistair Darling has slashed economic forecasts as he accepted that Britain faces its deepest recession since the Second World War.

Delivering his second Budget, Mr Darling warned that output would shrink by 3.5 per cent this year - more than doubling his previous forecast.

Mr Darling revealed that borrowing this year would soar to a record £75 billion - with another £173 billion in 2010 - as the country battled with the worst global downturn in 60 years.

But Tory leader David Cameron launched a scathing attack on the Government's handling of the economy.

He said: "As of today any claim they have ever made to economic competence is dead, over, finished."

Mr Darling was left with little scope for fresh action to revive an economy struggling under a savage downturn.

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[MimicMimix]

Goodbye.

[cncxgrinder]

should have put it 70

[johnfox3]

@stellamaris42 commie

[23BY]

EXPOSUREWILLOCCUR

[stellamaris42]

Anyone know the percentage of people who would be affected by the higher rate of tax? A very small percentage I should think. I doubt if they will be resorting to living on stale bread and gruel. Many of them are the bastards who played around in the banking system and caused this mess. If they are thinking of fleeing abroad, good riddance.

[andrewsurtees]

interesting time to kick off a class war. Maybe the business sector is indeed full of bastards who should be squeezed until the pips squeak. But none of them paid 40% in the first place -there's an enormous chunk of accountancy business that is entirely predicated on that.

All this does is slightly raises the accountancy bills of people who were otherwise paying 18% tax, and are still paying about 18% tax.

Anyone who thinks the effective top rate has gone up simply doesn't understand tax.

[balny2000]

blow them cunts up n get ppl in who will look after the tax payer not fuck them over, 10 downing street... tic toc tic toc BOOM,

[1madaboutguitar]

50% Tax for over £150,000 is an absolute piss take. Im not earning that yet but when I do Im going abroad...what a wanker!

[webmessia]

GRRR!!!!!! LABOUR MUST DIE!!!!

First they put loads of our money into the IMF, most of which is fake money (i.e Borrowed, or Over-Inflated), and now he's driving away high earners (i.e Employers!!)

[mightywindmill102]

I think not. Nationalism is a concept that technically shouldn't exist in politics, but it does. No-one would sell out their own country. Even if a NWO was established, the people would rise up to destroy it. History has taught us that oppressive regimes always come to an end via revolution if the people want it enough. Examples include the French Revolution. The people were unhappy so they took action. A One World Government will never be permanent even if one was on the way.