Alistair Darling yesterday insisted Labour would not hold a second Budget should it win the general election and ruled out a rise in VAT, dismissing Conservative claims that this week's Budget would be "window dressing".
Despite better-than-expected tax and borrowing figures, the Chancellor has ruled out a pre-election "giveaway" and said the public wants a "sensible and workmanlike" Budget on Wednesday, reports The Scotsman. He is expected to push some extra cash into stimulating business investment and helping the unemployed, but use the rest of the extra leeway to help pay the UK's record deficit. He said that a rise in VAT was "not on the table". Mr Darling warned Tory plans to introduce a bank levy without international support pose "a hell of a risk" to City jobs. Full story...
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