Debt

George Osborne sits down at 13.28 – that’s it, the Budget has been delivered. Now Harriet Harman will respond, but thank you for comments and for joining us.

Jim Pickard, political correspondent: Osborne’s promise to return to “financial prudence”… Could this be a dig at Gordon Brown by any chance? This was in happier days his favourite expression.

Jamie Chisholm, FT Global Markets Commentator: Gilts back to where we started, down 8 basis points at 3.45 per cent. Sterling little changed.

Child element of tax credit to be increased

Matthew Vincent: The chances of exchanging contracts on your second home by 5.30pm today look a bit remote. Best phone your solicitors and give them the hurry up…

Robert Shrimsley, editor of FT.com: Is it my imagination or is George Osbrone saying “coalition government” much more now that he’s got to the nastiest parts.

 Read more

Some political points have a short shelf life and David Cameron’s lament on debt interest is one of them. The trouble is that if he keeps on complaining about the terrible £70bn burden facing the country, people may actually think he can do something about it.

Take this typical comment at prime minister’s questions, which is being trotted out as standard Coalition creed: Read more