Gordon Brown, the chancellor, should have raised income tax rather than reducing it in Tuesday's Budget if he was concerned about the long-term health of the public finances, according to a leading economic forecasting group. The National Institute of Economic and Social Research believes that the Budget has made an already unsustainable path for the public finances even worse. But the Treasury believes that the institute is unduly pessimistic, in part because it is too downbeat about the economy's growth outlook....more

Competition policy could find it tougher to cut prices
Gordon Brown, the chancellor, achieved a public relations coup this week, winning widespread praise for his promise of a "new competition policy" to root out cartels and force retailers to cut prices for consumer goods. Mr Brown's ringing defence of consumer interests was followed by a statement from Stephen Byers, the trade and industry secretary, promising tougher merger controls and action against rogue traders and high prices....more

TOBACCO SMUGGLING
'Tsar' will lead offensive
The government is to appoint a "smuggling tsar" to lead an offensive against illegal cross-border tobacco trading. Gordon Brown, the chancellor, said yesterday greater resources would be committed to catch the smugglers and recover lost tax revenue....more

SPIN
Answers to Budget questions depend on who wants to know
Was Tuesday's Budget expansionary in its impact in the economy or contractionary? For Gordon Brown, the chancellor, the answer seems to depend on who is asking the question....more

MIDDLE ENGLAND
Professionals sit comfortably
Nick and Sarah Venning consider themselves a typical professional couple. He is a European business development manager for PwC, the accountants. She is a part-time biology and physiology lecturer at a local sixth-form college....more

UNIT TRUSTS
Isa plans hit by new stamp duty rules
New stamp duty rules announced in Tuesday's Budget have dealt another blow to the government's already battered Cat standards for savings products. Changes to the stamp duty regime for unit trusts are expected to double the amount of duty paid by many fund managers....more

BUDGET IMPACT
Couple receive negative signals
John Barber and Dawne Quinton met as students over three years ago at Leeds University. They are hoping to get married within the next two years and buy a house together, but are concerned about the impact this Budget could have on their plans....more