Alistair Darling has delivered his 2010 Budget in the House of Commons. See below for his speech in full.
Mr Deputy Speaker, this Budget takes place as the UK economy is emerging from the deepest global recession for over 60 years.
It has been a testing time which has required Governments across the world to make difficult choices and take unprecedented actions.
We had to decide whether to intervene to rescue the financial system or stand on the sidelines.
Whether we should support the economy, business and families or let the recession take its course.
The record shows the right calls were made.
Global recession has not turned into depression.
Unemployment here in the UK has not risen as much as was feared.
Borrowing, as I will explain later, is lower than forecast last year.
But the recovery is still in its infancy. There are equally tough choices ahead.
Choices that will shape our economy and society for decades to come.
The task now is to bring down borrowing in a way which does not damage the recovery or the front-line services on which people depend.
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