Budget March 2008 Summary Article Published: 22:06 12/03/2008 Article Classification: Talland Bay
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The UK Chancellor of the Exchequer, Alistair Darling, has revealed the 2008 budget, which he describes as a "responsible Budget to secure Britian’s stability in the face of global uncertainty."

The budget report showed that the government expenditure for 2008 was higher than the total government funds, meaning that the governments debt has increased over this financial year.

The budget report mentioned a increase in fuel duty. The budget report said that "the planned fuel duty increase of 2 pence per litre in April 2008 will now be postponed until October 1, 2008. Main road fuel duty rates will rise by 1.84 pence per litre on 1 April 2009, and will increase by 0.5 pence per litre above inflation on 1 April 2010"

In the budget speech Darling described the financial forecasts. He said that his "forecast shows the UK economy will continue to grow throughout this period of global uncertainty – a view supported by the Bank of England, the International Monetary Fund and the Organisation for Economic Co-operation and Development."