2008 Budget: Darling’s design for a ‘greener’
future
Billed as a
‘responsible’ and ‘green’ Budget, the environment found its way to the top of
the agenda in Chancellor Alistair Darling’s debut Budget speech.
Darling
used his first Budget statement to introduce a series of measures aimed at
reducing the UK’s carbon emissions, including a new zero rate of car tax to be
levied in the first year for new, low polluting vehicles - just part of a wider
reform of vehicle excise duty.
Despite
attempts to improve his ‘green’ credentials, the Chancellor declared that a 2p
increase on fuel duty will be postponed from April to October this year to help
the country through the current credit crunch. However, Darling advised of
further 0.5p fuel duty rise that is planned for 2010.
Extra
funding for road-pricing proposals and additional financing to help homes
become more environmentally friendly were also pledged by Gordon Brown’s
successor.
Delivering
his statement to the House of Commons, the Chancellor acknowledged mounting
concerns over the global credit squeeze but insisted the
If
businesses were expecting further changes to the notorious proposed capital
gains tax reforms, then they will be disappointed, with the Chancellor
confirming that his controversial plans will be implemented as planned.
He also
confirmed that a cut in corporation tax will take effect from next month.
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