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| Budget 2010: Darling, is that it? |
Today's budget was never going to have many rabbits pulled out of hats - but few thought Alistair Darling's hour-long speech would be quite this boring.
The Chancellor (predictably) refused to rock the boat by delivering a traditional Labour budget, with a cut in stamp duty for first-time buyers funded by a slew of higher taxes for the rich.
But even so the two most eye-catching announcements sounded suspiciously similar to Tory and Lib Dem plans.
Firstly, the big tax rise of 10 per cent above inflation on super-strength cider and alcopops.
This is almost identical to Tory plans to ratchet up duty on booze favoured by binge drinkers.
Second, the increased levy on people exchanging £1million-plus homes echoes Vince Cable's short-lived "Mansion Tax" plan.
Admittedly, Darling's measure doesn't penalise cash-poor people (such as pensioners) who are living in high value homes in quite the same way.
After all, if you've got the money to buy a £1 million home then you can probably better afford to stump up the tax.
But the copycat announcements will do nothing to stave off attacks that Labour is running out of steam and ideas.
The other nuts and bolts of today's budget include:
- Stamp duty axed on house sales under £250,000 for first-time buyers
- Fuel duty rises delayed
- Budget deficit predictions revised to £163bn rather than £178bn, but growth forecasts cut
- State owned banks RBS and Lloyds forced to lend more to small businesses
- Crackdown on tax evasion
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