Budget Schmudget

He gives with one hand and takes away with the other. Yes, it was nice to get a cut in the basic rate tax from 22% to 20% as of next April but taking away the 10% lowest rate band will negate the good effects for many. Raising the Isa limit from £7,000 to £7,200 is pathetic, particularly as it raises the mini cash Isa limit rather than encouraging long-term savings in the Stock Market. The IHT raise was similarly too little too late. We think the threshold should be closer to £1 million, not a paltry £350,000. As for no Stamp Duty on carbon neutral homes, not a bad idea but how many of those are on the market? We would have liked to see a major reduction on Stamp Duty for first-time buyers and a massive increase in the tax for people investing in buy-to-let properties to even the balance.

It looks like another 'love me, please vote for me' budget - this time aimed at the struggling middle classes/middle incomers who are quantifiably worse off now than they were when Labour first came to power. They are the ones most likely actually to vote in the next election but they are also the ones who feel the most angry with this Government.

Frankly, we think that Gordon 'personality by-pass' Brown doesn't have much of a hope if he does become the new Labour leader, no matter what the tax cuts. Not only is he just not attractive to the general public but across the board people are sick of Labour and their empty promises. Having said that, though, there's very little else to choose from...very little.