This briefing by Dods Monitoring (www.dods.co.uk) is designed to give you a comprehensive insight of all the consultations, new reviews, draft legislation and initiatives contained in the 2010 Budget, the Red Book and the HMRC Budget notes.

Despite a slightly healthier economy than was predicted the Budget was dominated by the size of the deficit. In contrast to Gordon Brown’s last Budget as Chancellor there was no eye-catching largesse designed to sweeten the voters before the election.

What give-aways there were small in scope: a stamp duty holiday for first time home buyers and more support for small businesses. Tellingly, Alistair Darling pledged that if tax receipts were better than forecast the extra revenue would be used to pay down the national debt.

The Chancellor also used the Budget as a platform to attack the Conservatives for their perceived support for spending cuts. Mr Darling argued that cutting spending would endanger the recovery and prolong Britain’s economic woes.

The Budget’s theme was of using public spending to stimulate growth. A new body, UK Finance for Growth, is to be set up to oversee the development of the government's £4bn stock of finance schemes for smaller firms. It will help streamline existing schemes and oversee a new Growth Capital Fund.

In addition, a Green Investment Bank will be established and tasked with investing in low-carbon infrastructure projects. The bank will be capitalised with £2bn with the money coming jointly from the public and private sectors.

However, the Chancellor also acknowledged the need to make efficiency savings. After the

Budget had been delivered the Government set out how it was to save £11bn from annual departmental and local authority spending by 2014 (see Departmental Efficiency Savings in linked document).

The short time left to pass legislation in the current Parliament means that the usual Finance Bill will be split in two. In the summary of the Red Book found below we have separated the measures that will be legislated for in this Parliament from those that will not be put into law until after the general election.

To study the Budget Summary in full, please click here .