Chancellor ‘had his hands tied’

By Joel de Woolfson

CHANCELLOR ALISTAIR DARLING delivered his first Budget with his hands tied, according to Treasury and Resources minister Lyndon Trott.

But the toning down of changes to the non-domicile rules was a relief. Deputy Trott, who was at a Budget seminar last night hosted by Ernst & Young, said the UK chancellor’s ability to manoeuvre in the present economic climate was severely limited.

‘The global credit crunch continues to impact on business activity around the world and high food and energy prices are creating an environment in which inflation is stubbornly high and opportunities for growth in the UK are limited,’ he said.

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