Alistair Darling has just announced that the threshold for inheritance tax is up to £600,000 for married couples.

I’ve never seen Gordon Brown smile so much – he looked like he was really enjoying the theft of Tory ideas.

Great speech from George Osborne in response.  Here are some highlights (not verbatim):

This was meant to be a pre-election budget without the election.

The Prime Minister fired the starting gun but shot himself in the foot.

The Prime Minister’s name may appear on the cover of a book on Courage but it’ll never appear in the index.

Copying Tory ideas on inheritance tax isn’t leadership, it’s followership.

This is a cynical government.

Growth is down, borrowing is up.

After a decade of growth the budget should be in surplus, not in deficit.

This government should have saved in a boom for a rainy day.  It didn’t.

The savings ratio is the lowest on record.

The growth of disposable income has fallen from 2.5% to 1.5%.

Neither of these things were mentioned.  Just like his predecessor, Alistair Darling is hiding the truth.

He shouldn’t be copying Gordon Brown – he should be blaming him.

The growth of spending is slowing fast.

Reform never got off the ground.

Our tax burden is rising to a historic level – when all our major competitors are cutting tax levels.

Today’s announcement is a tax-raising announcement.

This is a Government of fake photos, fake troop withdrawals and fake hospital openings.

5.30pm: Matthew d’Ancona thinks I missed the most important line from GO’s speech: “From this day on let there be no doubt who is winning the battle of ideas."  Matt explains all over at The Spectator’s Coffee House blog.

87 comments for: Osborne attacks ‘fake Labour’ after Darling cuts inheritance tax

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