Daily Archives: March 23, 2011

Today’s Budget did not include many surprises beyond the ones we flagged up in our FT Westminster checklist. They include a plethora of “pro-business measures” which Vince Cable tells us amount to “small changes culminating in big differences“.

On the fiscal front, looking at the crucial “scorecard” in the Red Book (pages 42-46) you can see that many of the changes are relatively small in financial terms.

They are dwarfed by the following changes – for this year alone – which were already in the pipeline from decisions made last year or earlier.

Money already coming into the Exchequer: NICs is going up for employees (£3.5bn) and for employers (£4.6bn), pensions tax relief is being restricted (£1.2bn) and benefits and tax Read more

Chancellor’s red boxThe FT’s Westminster blog is running live commentary on the Budget. Join us here from 12.30pm, London time. This post will update every few minutes, although it will take longer on mobile devices.  Read more