2008 United Kingdom budget

The 2008 United Kingdom Budget, officially known as Budget 2008: Stability and opportunity: building a strong, sustainable future, was formally delivered by Alistair Darling in the House of Commons on 12 March 2008. It was the first Budget to be delivered by Darling, who had been appointed Chancellor of the Exchequer the previous June.

2008 (2008) United Kingdom Budget
Presented12 March 2008
Parliament54th
PartyLabour
ChancellorAlistair Darling
Total revenue£575 billion‡[1]
Total expenditures£618 billion‡[1]
Deficit£43 billion‡
WebsiteBudget 2008
‡Numbers are projections.
‹ 2007
2009 ›

Among the changes from the previous year were that taxes on alcohol, cigarettes and high-polluting cars would be increased.[2] Child Benefit would be raised to £20 a week from April 2009; winter fuel payments for pensioners would also be increased.[2] All long-term recipients of Incapacity Benefit would have to attend work capacity programmes from April 2010.[2]

The growth of the national economy was expected to slow down to approximately 2% in 2008, down from 3% in the previous year.[2]

Details

Taxes
  Income Tax (28%)
  National Insurance (18%)
  Value Added Tax (VAT) (15%)
  Corporate Tax (9%)
  Excise duties (7%)
  Council Tax (4%)
  Business rates (4%)
  Other (15%)
Receipts 2008-09 Revenues (£bn)
Income Tax 160
National Insurance 105
Value Added Tax (VAT) 84
Corporate Tax 52
Excise duties 42
Council Tax 25
Business rates 24
Other 84
Total Government revenue 575

Spending
Department 2008-09 Expenditure (£bn)
Social protection 169
Health 111
Education 82
Debt interest 31
Defence 33
Public order and safety 33
Personal social services 27
Housing and Environment 23
Transport 21
Industry, agriculture and employment 22
Other 67
Total Government spending 618

Notes
  1. "Budget 2008: Stability and opportunity: building a strong, sustainable future" (PDF). HM Treasury. Archived from the original (PDF) on 2012-07-04. Retrieved 2012-02-28.
  2. "At-a-glance: Budget key points". BBC. 12 March 2008. Retrieved 2012-02-28.
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