12.30 Here we go
12.31 Green already in
12.31 Rebuild financial services - radically I hope
12.32 Assures us there will be no recession. Pretty deep depression is anavoidable though - I say
12.32 G20 link - stresses international solutions - suggests Brown is sticking to the theme 'this was not made here'
12.32 Expects growth by end of this year - if there isn't it will be goodby Labour.
12.33 Mentions problem for developing countries
12.34 Credit is precondition for recovery - maybe - I think it's much more than that - credit must have a use
12.35 VAT cut will stay - and I bet it will until May 2010 now....
12.36 Will be retraction of 3.5% overall this year - but out by end of year
12.39 Long lists of those comparisons which make budget speeches so boring
12.40 1.25% growth in 2010 - and will come from a broader base - green business and communications - not financial services
12.41 Growth 3.5% - wildly optimistic
12.41 - 1% inflation by end of this year
12.42 Inflation taregt is 2% - so more room for quantitative easing
12.43 Deficit will halve in 4 years
12.43 Fear of job losses is real. Can't stop them all. Targetted help to find new jobs and new skills. Good - but no details of how.
12.44 Much increased funding for job centres - a boom industry at the moment
12.45 Special help for those out of work for 12 months and young people - the latter are incredibly important
12.46 From January everyone udner 25 out work for 12 months gets a job or training - it's bold - requires 250,000 jobs - this will be very hard - but good if it works
12.47 Loosing homes - wants reduce repossessions - will give extra support for people looking for jobs to pay interest
12.48 Will be new securitised mortghage loan facility - we're back into the securities market - bad news - nothing has been learned
12.48 Stamp duty holiday extended
12.49 500,000 bsuinesses have deferred tax bills
12.50 Help with cash flow problems in small business - tax loss carry back extended to 2 years - 100,000 businesses will get an average of £4,000 each (whoopee - no big deal). Lasts until 11/2010
12.51 Scrappage scgheme for cars IS NOT GREEN - waste is not green
12.51 Tax as share of GDP is down 1.2% !
12.52 Will ease 0.5% this year followed by tightening 0.8% a year thereafter
12.53 He's right - to cut more would be madness
12.54 £175 billion borrowing
12.54 takes sevral years to get below £100 billion borrowing again
12.55 GDP debt ration rise considerably - 79% in 2013/14 and only fall from then
12.56 He'll need all the money back from tax havens he can get to pay for that
12.57 Must do this I say - Keynes got this right - and to penalise people know when they'down is wrong
12.57 Tax evasion and avoidance - has built on avidance at £1 billion a year. Will be closiing £1 billion or new loopholes. IS THAT IT?
12.58 Penion tax releif reduced for those on over £150,000 from 2011 - not enough - wipe out there cklaim althogether
12.59 New tax for thsoe earning over £150,000 - 50% from next year
12.59 - pa goes for those with income over £100,000. He does listen to me after all. Good news.
13.00 £ 9 billion of savings - but not at front line - that's OK
13.01 All iorgansiations have some room for saving - but not in the way the Tories say
13.02 Capital investemnt is continuing - shame it's on the Olympics - I'm out of the country then, by choice
13.06 £16 billion of asset sales - I hope this is not privatisation
13.07 £1 billion for climate change investment - NOT ENOUGH - BANKS GOT £100 BILLION PLUS
13.08 Financial sector - wants to keep us a world centre - groan - does it really add value? Regulation will be reformed though. Will hit pay and gearing - and new set of accounting rules - hedge funds are in
13.09 Housing - just £100 million for energy efficient council housing - is that it?????
13.09 North see oil - adds incentives to boost oil - another non-green deal
13.11 Promote capiatl allowances by giving 40% to big business - actually a massive boost to the banks of leasing
13.11 £750 million for new high tech businesses - too little
13.12 Support for wind - good - 3 million houses will have wind driven electricity
13.13 Combined heat and power gets boost - excellent - this will be ahrd for Tories to tackle
13.14 This stuff is OK - but it's only £405 million
13.15 Is he winding up?
13.16 More for families and pensioners he says - says will target child poverty - extra money for disabled trsut funds - irrelevant - small increase in child tax credit - some releif for grandaprents who are carers
13.16 Wants increase state pension by 2.5% even though RPI may be negative
13.17 Will keep fuel allowance at last year level despite cuts in fuel prices
13.19 ISA limit increased to £10,200 -early for those over 50 (me!) - and I hate this treleif for the middle classes which wastes so much tax
13.20 He's finished