Budget 2009: Darling delivers upbeat Budget
Budget 2009: Darling delivers upbeat Budget
Wednesday 22nd April 2009
Alistair Darling has delivered an upbeat Budget this afternoon, predicting economic growth will return to the UK next year.Unveiling a series of measures aimed at encouraging economic growth Mr Darling optimistically predicted the economy would grow by 1.25 per cent next year and 3.5 per cent in 2011.
He warned, however, the UK economy would shrink by 3.5 per cent by the end of this year, a significantly worse level than he predicted in his Pre-Budget Report in November.
Among measures announced this afternoon was a rise in the highest level of income tax, increasing from 45 per cent to 50 per cent from next year for those earning more than £150,000.
Conservative leader David Cameron attacked the announcement claiming it broke a previous Labour election manifesto.
Also announced in Mr Darlings' Budget were higher carbon emissions targets – up to 34 per cent by 2020, the well-publicised car scrappage scheme and initiatives to develop green industries.
The chancellor said alcohol duty would rise by two per cent from midnight tonight, and tobacco by two per cent from 18:00 tonight.
There was also an announcement of a rise in fuel duty.
Mr Cameron claimed the Budget did not do enough to stem government spending and stated the country could not afford another five years of a Labour government.
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