Slainte George!

At last - a budget for savers! About time too! There is something perverse about a society which rewards those who are up to their necks in debt while punishing the prudent (and by prudent, Calton means those who behave responsibly and put something by for their future, not the Gordon Brown "boom and bust" definition of prudent). There is no point in having an economic recovery if it is based on debt-fuelled consumer spending. We've been there and done that and, while it felt nice at the time, it didn't last. We need a recovery based on more manufacturing and greater exports and Calton is pleased to see that heavily energy-dependent industries are to be given a helping hand. Scrapping the planned fuel duty rise will benefit not just families but businesses and is also a welcome decision. All in all, Calton sees very little to complain about this year and a lot to be happy about, including the fact that there is no extra tax on his favourite malt. Slainte George!

So predictable - unlike the Donside by-election

Is it any surprise that there is growing support for the idea that we should leave the EU when the European Council, backed by the European Parliament, has just agreed the European Commission's request for an extra £6.2bn to be added to the budget, in spite of Cameron talking tough a few weeks ago. Calton doesn't like to say "I told you so" but ... it was entirely predictable that this would happen, and it completely knocks the legs out from under the Prime Minister's idea that he can renegotiate our position within the EU. We just don't have that much clout. However, it is good to see that one of the three main parties (four in Scotland) is now willing to give the British people a say regarding our continued membership of the EU. Labour and the Libdems are going to look increasingly out of touch with the electorate if they continue to refuse to back an in-out referendum on the EU, especially if, as seems likely, UKIP continue to make gains in elections. The Aberdeen Donside by-election will be an interesting indicator of UKIP's support in Scotland, with the announcement of Otto Inglis as their candidate. (Inglis previously contested Dunfermline and West Fife in the last Westminster election.) Calton awaits the outcome, which is anything but predictable, with interest. (And perhaps, given UKIP's recent share of the vote down south, he should be talking of four main parties, five in Scotland?)

Banks, blogs and the Budget

To be honest, Calton is still worrying about mulling over the ramifications of the new press laws Royal Charter and the escalating situation in Cyprus to be bothered about think about the Budget. No more fuel duty increases for the time being and a cut in the price of a pint are obviously a good thing but will pale into insignificance if the money in Calton's bank account can be raided at the drop of a hat to prop up ailing banks or if a complaint against this blog results in a huge fine. It's enough to make anyone burn the midnight oil, thereby depleting even further the resources which the OBR and the First Minister so spectacularly fail to agree on.