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Budget 2010: UK economy coming out of recession

Simon Quicke

The Chancellor has outlined plans to support the recovery and invest in businesses of the future.

In the final budget before the election, the third delivered by the current Chancellor, the word recession featured heavily but with Alistair Darling patting himself and colleagues on the back.

He said that the recovery was here and the UK economy had managed to come out of the crisis in better shape than was expected by some critics and the prospects for the future were much better than they were a year ago.

Although he accepted that the recovery remained fragile the economy was in a much better position and the actions the government made to prop-up the banks had been the correct course of action.

In a nod to the plans for investing in IT firms that will have a low carbon footprint and fit the description of 'future businesses' Darling said that strategy was a fundamental part of its strategy.

"How do we invest to support the industries of the future and allow talent to flourish," he said "This will be a budget to secure a recovery".

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