Budget 2008 : stability and opportunity, building a strong, sustainable future, economic and fiscal strategy report and financial statement and budget report

The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year.

The Government reports that the economy is stable and resilient, continuing to grow, and that its strict fiscal rules are being met.Measures included in the Budget 2008 include: further financial support to move 250,000 children out of poverty; an additional one-off payment for over-80s and over-60s households alongside the Winter Fuel Payment; increased support and access to finance for small firms; a GBP 200 million package to support and bring forward by one year the GCSE targets; postponement of the planned April 2008 fuel duty increase of 2 pence per-litre until October 2008; an increase in alcohol duty rates by 6 per cent from 17 March 2008; laying the groundwork for the introduction of five-year carbon budgets (the first of which will be included in Budget 2009); further steps to tackle climate change, including: reforms to Vehicle Excise Duty; auctioning of 100 per cent of allowances for large electricity producers in Phase III of the EU Emissions Trading Scheme; and to eliminate single use carrier bags the Government will legislate and impose a charge if retailers do not take voluntary action. It also covers further reforms to modernise the tax system and a number of measures to combat tax fraud and avoidance.