Peter Hoskin

Budget statement live blog

1232, PH: Darling’s started.  Stripey tie and gloomy face…

1233, JGF: Darling looks nervous and uncomfortable.  His tone is sombre.

1235, PH: Darling expects the economy to start growing “by the end of this year”.

1236, PH: Darling’s giving the global spiel, letting us know how much exports have fallen in Germany and Japan…

1237, PH:
He claims that the £20 billion of “help” announced in the PBR is “coming through now”. The Tories’ “Labour isn’t working” attack denies that.

1238, PH: Now Darling’s taking credit for the “independent” Bank of England’s interest rate cuts – “cheaper mortgages and loans”.

1239, PH: On the G20 summit: “We agreed to take whatever action is necessary…”  Most annoying soundbite of the year?

1240, JGF: Expect Darling to regularly cherry-pick numbers to suggest that other developed economies are worse off than we are.

1240, FN: “In all these decisions, we have been guided by our core values” – yes, this – alas – has been the problem.

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