Naming the Budget
Journalists can't resist giving budgets titles. Already many have, rather absurdly in my view, started to call this week's offering a "Green Budget鈥.
Unable to resist the temptation, let me suggest a better title - the 鈥淩epairs Budget鈥 (yes, I know you can do better so please let me have your suggestions). Why? Since the aim of this Budget will be to make a number of crucial repairs:
鈥 The hole in the government's finances. Alistair Darling has made clear there'll be (that's what he means by saying that fiscal policy will back up monetary policy). However, he's likely to set out policies that will increase tax revenues over time. Don't expect these to be labelled tax rises (deary me, no). They will, instead, be heralded as measures to tackle climate change and the binge drinking culture.
鈥 Gordon Brown's reputation for economic competence. This took a knock thanks to Northern Rock, last autumn's "Magpie Budget" (in reality the pre-Budget report) which "stole" Tory proposals to cut inheritance tax and tax non-doms and the bungled handling of capital gains tax changes.
鈥 Alistair Darling's reputation. Damaged by all the above and by replacing a successful well known chancellor at the very time the economy turned, Mr Darling will want to restore his connection to the phrase that followed him throughout his ministerial career - "a safe pair of hands".
鈥 The government's relationship with business. The poor handling of the announcements on non-doms and capital gains tax has led to a loss of faith in ministers in the business community. Gordon Brown's business Goat, Lord Digby Jones, has almost said as much. His old chums at the have said so explicitly. The Tory vultures are waiting to pounce.
鈥 Labour's reputation for tackling child poverty. Ministers will not meet their target of with their current policies. Campaigners accuse them of putting tax cuts for the rich ahead of meeting their promises to the poor in the pre-Budget report. So, whether through changes to tax credits or measures to tackle fuel poverty, expect action here.
I'm 
Comments
I have a problem with "Gordon Brown's reputation for economic competence."
Please explain to me how this reputation shows in real cold facts and not just journalese.
I realise we have not had a budget surplus for years and years despite boom time, so perhaps it's falling taxes? Or improved NHS productivity? Or interest rates at record lows?
I must have missed something all you clever journalists have seen cos you keep repeating it. Or are you swallowing Labour spin?
Again?
Looks like more regurgitated press releases it seems.
The Tory vultures are waiting to pounce.
Since when did vultures pounce?
It is not a green budget, it is a Brown budget.
Any damage to the government's reputation is, mostly, wind from political opponents and people who want something for nothing. They're doing quite well under difficult circumstances and I expect this to become the dominant view sooner rather than later. Simply, people claim the government has mishandled things when it takes two to tango.
If the government continues to act soundly it will continue to punch through this fog of mediocrity rather than allow itself to be painted with it, and opposition parties and vested interests will be left looking rather sorry. While your comment is persuasive, Nick, it's got the hint of lazy filler about it and I expect you'll be eating those words soon enough.
What goes around, comes around.
Just a suggestion to poster number 1 (im no expert) but perhaps it comes from being the chancellor who gave us the longest sustained period of economic growth since the war?
This budget will be known as 'The End of the Brown Boast'.
Gordon Brown became far too fond of boasting about an economy we now know to be dangerously over indebted. He has been found out to have been boasting about growth the entire developed world was experiencing. He boasted about prudence that the Tories had put in place. He boasted about government spending that was such a flood that much of the cash was washed away like storm water rather than trickled into the economy and fed it.
Darling is the unluckiest chancellor for some time as he will be made to carry the can for the current economic circumstances so that a newcomer can blame Darling not Brown. But as I have said previously, no one should be surprised at the lengths Brown now goes to to cling onto power; including destroying those all around him. Just look at how the 'support' for Peter Hain turned out to be otherwise. Just look at how his team of trusted advisors has been swept under the carpet to be replaced with spin doctors.
Things will get very bloody from now on as Brown engages in a bare knucle fight to kill all opponents and fights to the death for his survival. It will be Orwellian, bitter, peppered with half truths, repetitions and lies. It will be worth every penny to watch the clunking fist last blow after self inflicted blow.
>Geooff
At time of economic expansion, you are supposed to run Budget surpluses .. to save for the bad times when you run deficits.
A prudent Chancellor would.
Is Charles E Hardwidge (poster 4) a Labour spin-doctor ? The damage to Labour's reputation comes from the fact that people are now waking up to damage caused to the economy by the government's spending binge of the last 7 years (they spent the first 3 years conforming to the Tories' restraint on public spending). It's been obvous for some time that any improvements in productivity in the real economy cannot possibly pay for the inflated tax-burden needed to pay for public sector pensions, (Enron-style) PFI financing, wasted public sector salaries etc., never mind the inflated house prices triggered by government profligacy (and immigration of potential Labour voters).
Wasn't Brown's handling of the economy supposed to ensure that Britain would continue to prosper whilst other less savvy nations sunk? It would appear that he was talking rubbish and merely riding off a global economic high to claim applause for himself... lets hope he is ready for the uncomfortable descent to planet truth!
Poster #5 Geoff,
i'm no expert either, but i believe that the longest period of economic growth boast, so beloved by Labour, actaully includes the last 4/5 years of the previous Tory government. Not too mention that Brown then followed Ken Clarkes spending plans for the next parliament.
Then you can look at some of Brown other decisions, for instance the sale of the gold reserve which failed miserably to maximise income for the country. Then there's the whole PFI issue of off-book financing.
So has Brown been a good chancellor? Not in my opinion, he's just been fortunate.
A Fudget?
I vote for 'The Laurel and Hardy Budget'
This is another fine mess you've got me into.
The 'Northern Rock Fiasco' budget?
The 'Tax More To Save the Whales/Amazon Rain Forest/Great Crested Newt/Whole Planet' budget?
The 'How Come No Matter How Much We Tax And Spend (Ooops - sorry - 'Invest') Everything We Touch Crumbles to Dust and Ashes And Why Can't We Organise A Party In A Brewery?' budget.
What does it matter what it's called? We all know that taxes and wasteful spending will rise. The 'environment' and 'binge drinking' will provide a threadbare cloak in a pathetic attempt to hide Nu Labour's naked incompetence and barefaced lies.
#5
How you have been fooled. There have been 67 continuous quarters of growth. However Brown was Chancellor for 30 of them. The Iron Chancellor inherited an economy in surplus (3% in 2000) but now it's in deficit (by 3%). Moreover the average quarterly growth has been 0.1% below the average under the Conservatives. SO despite all the borrowing and wasted taxes raised - we are still worse off and now we are facing an economic slowdown only part of wich was engineered in the US, the rest was made in Kirkaldy.
We may have had the best period of growth in the since the war, however the many reasons for this have hardly anything to do with Gordon Brown and Labour, The whole world has seen growth however we are the only country not to keep some of that cash safe for a bad day.
The UK has the worst debt per person in the world, and with the Goverment borrowing more it will be us who pays.
Millions are wasted with no real improvement in NHS, Schools and crime.
100 Billion on NR
Red tape at its highest level.
And alister Darling will be blamed if it gets worse while this is due to the big man Gordon Brown.
or the
Hospital pass Budget
We've had Brown deliver the "espresso" budget (dark and intense) and the "cappuccino" budget (all froth and no substance) - I think this will be the "green tea" budget (although it gives the appearance of health, it is actually pretty weak and insipid).
Nick
Based on the Brown model for budgets - real effects disguised deep in the detail - from the Government who gave us the "Dodgy Dossier" it's the "Bogus Budget".
Mind you that wouldn't distinguish it from all the previous versions. For this specufuc one,how about the "Fig Leaf Budget" - designed to try to cover past and forthcoming embarassments.
Alistair Darling's reputation. Damaged by all the above and by replacing a successful well known chancellor...
Do you mean Ken Clarke?
I can't think of another successful one. Unless success is measured by the size of the on and off the book borrowing. Then I can think of a very very successful one.
Clearly it should be named The Hidden Crock Budget, with 拢110bn off the balance sheet.
How about
"Darling Budg in March"
or the
"He's in Charge blame him" Budget
Unecessary!!!
The "Do as you are told Alister" Budget
It will definitely be the 'green' budget. Why? Because, as with all Labour budgets, it will be made of 80% recycled policy announcements.
The "lets see how much we can squeeze out of them before they realise what we are doing" budget.
Not exactly punchy I know.
Brown has presided over so many stealth tax increases, the sale of our gold reserves at rock bottom prices for comparatively useless euros, Northern Rock and massive borrowing (to name a few) and people still talk of him as a good chancellor.
Brown inherited a successful and well managed economy which he has slowly ruined. He is fortunate to have handed it over to Darling just in time to see it collapse in the hands of someone else.
Brown, Darling, etc etc etc, ALL rubbish and have successfully RUINED UK PLC.
Please resign - PLEASE.
The "Repairs Budget" is a good try, and I wish it fitted the bill. But where is the evidence that the Government knows of any worthwhile, lasting repairs to undertake?
I fear a "Makeup Budget" (read that how you will) is what we will see.
Wishful thinking, but what about 'The Final New Labour Budget'
Name for today's budget? How about "My Penultimate Budget"?
I quite like "Onwards to Oblivion" ie same ol same ol while small businesses are exterminated, regulations written to drive out smaller competition in favour of mega corp, mega labour donor etc etc
How about the 'out of the woodwork' budget, because it's interesting how after 11 years of hiding all the tory's come climbing out of it!
Budgets are many times more important to a government than to any individual. They raise huge amounts of additional funds whereas the lives of the citizens never seem to noticeably change as a result of budget changes. We are just expected to cope and in the vast majority of cases do. So spare us the 'what it will cost us' rhetoric. We are always the victims overall and rarely if ever the direct beneficiaries.
I'd rather know that the additional money being raised was being spent wisely and that I could see with my own eyes the results of that wise spending in better schools and education (not happening), Streets safe from criminals and thugs (not happening), better public services (not happening), actual proof, not rhetoric, that the gypsies of the modern era, immigrants are not taking our jobs by undercutting us (it is happening), that govt regulators actually do something useful other than cost us money.
This particular budget has done absolutely nothing to assuage my fears or concerns for the economy or the general health and values of our nation.
The country needs a spell in rehab not just Amy.