The Budget

I thought Osborne delivered his speech well and that ED Miliband's reply was rather tame, or so it sounded over the radio. As to the contents it was rather like the curate's egg. The main bad bit was all this nonsense to to do with the Green Bank and the carbon price. the science on anthropogenic global warming is unproven and thus to spend money as if it were proven is crazy. As to the rest of the budget the reduction in fuel duty is clearly a good thing but a pity he could not reduce fuel duty further but he is of course constrained by the Labour legacy. The increase in the personal allowance is a good thing as is the help for home buyers and also the Gift Aid out of Inheritance Tax. Most particularly though the cut in corporation tax will help as will the other business aspects, including changes to planning law, Osborne announced. He said at the beginning of his speech that he would not change his deficit reduction plan and neither should he. Osborne has to stick to his guns on this. It will not be seen as an exciting budget rather more a steady as she goes type of thing but none the worse for all that.