There was much in the budget that was depressing, not least as one commentator on this blog has noted:
It appears that the line the media are taking is that the mess we are in is all Labour’s fault. Whilst I am very critical of Labour indeed, there seems to have been a decision taken that we should all forget that it was in fact the banks that created this catastrophe.
I think that is fair comment. There’s no doubt Gordon Brown’s legacy is not good. But he can’t be responsible for it all.
And there were signs of progress from a tax point of view e.g. para 5.85 on charities:
Budget announces further informal consultation with the sector to develop new rules based around an effective anti-avoidance purpose test.
There can be little doubt a new approach to tax avoidance is being developed.
I welcome that.