Lambert Chapman LLP’s John Smith-Daye reviews the 2010 Budget

I was surprised that Mr Darling spoke for so long – just on an hour I believe. As usual, there were a lot of statistics quoted which all reflect what a wonderful job he is doing. I wonder how often these figures are revisited after the event to verify their validity.

Again, as expected, a few sweeteners before election time – get the pensioners vote by keeping their enhanced winter fuel payments and enhancing their tax free allowances, get the youth vote by extending the employment support and increasing the level at which Stamp Duty bites on house purchases, get the entrepreneurs support by doubling entrepreneurs relief for CGT and the Annual Investment Allowance for equipment purchases .

I  must say that I was not keen on the freeze of the Inheritance Tax relief for an extended period – I consider this to be an immoral tax at the best of times, and his proposals just serve to make matters worse in my opinion.

Given the timing of the speech, the Chancellor would have been foolish to make any rash moves, and I noted that once more there were many political points being made by him, and similarly many political responses by David Cameron. In an ideal world, perhaps they could stop the bickering and get on with what is best for the country.