Darling cuts debt forecast, sets election stage

Reuters
"LONDON (Reuters) - The Labour government set the stage on Wednesday for a looming election with a budget that promised a 2.5 billion pounds package to boost growth, higher taxes for the well-off and lower borrowing than predicted only three months ago.Given a record deficit has spooked markets and threatened the country's debt rating, big giveaways were off the agenda but chancellor Alistair Darling still found some concessions like cutting house purchase duty for first-time buyers and laid claim to an economic recovery he said his Conservative opponents would crush. .....After Darling's address, bookmakers were still predicting that this will have been his last budget speech and shadow chancellor George Osborne will be making the next one."