1825 On that note, it is time to end our live text coverage of what looks to be a momentous day for the UK, both politically and economically. Please join us again for prime minister's questions on Wednesday, when Gordon Brown and David Cameron look set to go head-to-head over the chancellor's plans.

1820 BBC political editor Nick Robinson says the chancellor has taken "a huge bet using your money". If Mr Darling succeeds, Labour will get a fourth term in government, but if he does not the Conservatives will win the next general election, he predicts. BBC political editor Nick Robinson says the chancellor has taken "a huge bet using your money". If Mr Darling succeeds, Labour will get a fourth term in government, but if he does not the Conservatives will win the next general election, he predicts.

1814 Lib Dem supporter Alix Mortimer's reaction:This 0.5% on National Insurance. I smell another 10p fiasco. NI already hits lower earners disproportionately hard, with a current rate of 11% on your earnings between about £6,000 and about £40,000, and then 1% above that. What is this "offsetting" which will miraculously absolve those earning below £20,000 from being hit? Very over-complicated. This 0.5% on National Insurance. I smell another 10p fiasco. NI already hits lower earners disproportionately hard, with a current rate of 11% on your earnings between about £6,000 and about £40,000, and then 1% above that. What is this "offsetting" which will miraculously absolve those earning below £20,000 from being hit? Very over-complicated. Read more on Lib Dem Voice.

1811 Matthew Elliott, chief executive of the TaxPayers' Alliance, says: "An immediate VAT cut is welcome for families and businesses, but the prospect of large tax rises in the future is very worrying. To recover from this crisis we need permanently low taxes, not a crippling debt mountain and higher tax to come."

1808 Derek Simpson, joint general secretary of the Unite union says: "Today's pre-Budget report gives Britain a reason to be optimistic this Christmas and beyond. This is a welcome warm-up exercise after 30 years of inaction and neo-liberal economics."

1749 Across the Atlantic, US President-elect Barack Obama has been naming his economic team. Using rhetoric rather similar to Mr Darling's, he says: "The reality is that the economic crisis we face is no longer just an American crisis; it is a global crisis - and we will need to reach out to countries around the world to craft a global response."

1745 Tory MP Douglas Carswell's blog from inside the Commons chamber:Three or four times Speaker Martin rose to tells Tory MPs not to raise voices as the chancellor spoke. Not once has he done likewise as Labour MPs heckle George Osborne. Zero objectivity. Zero sense that the Commons' job is to hold ministers to account. Either he's too dozy, or he thinks his job is protecting ministers from scrutiny. Three or four times Speaker Martin rose to tells Tory MPs not to raise voices as the chancellor spoke. Not once has he done likewise as Labour MPs heckle George Osborne. Zero objectivity. Zero sense that the Commons' job is to hold ministers to account. Either he's too dozy, or he thinks his job is protecting ministers from scrutiny. Read more on Douglas's blog.

1742 Chas Roy-Chowdhury, head of taxation at the Association of Chartered Certified Accountants, says the government has an "extremely difficult task" - to encourage confidence, get people spending and yet show those outside the UK that the proposed increase in tax rate to 45% is not a disincentive to working in the country.

1737 On a tumultuous day in politics, the FTSE 100 index of leading shares closed at 4152.96 - up 372 points or 9.84% .

1735 "Please can you tell me how this will affect me and my carer. I am disabled - there was no mention of our benefits. I heard about tax cuts and VAT reduction for the elderly and children, but nothing for disabled people and their carers."

Graham Coe, Chippenham, UK Have Your Say "Please can you tell me how this will affect me and my carer. I am disabled - there was no mention of our benefits. I heard about tax cuts and VAT reduction for the elderly and children, but nothing for disabled people and their carers."

1732 Mr Darling's plans are storing more problems up for the UK economy, former Conservative chancellor Lord Lawson tells the BBC. The current troubles are the "hangover" after the "credit binge", he adds. The VAT cut is "neither here nor there", Lord Lawson adds.

1720 Liberal Democrat leader Nick Clegg says Mr Darling could have "rebalanced the tax system for good" but did not. This was a "great pity", he adds. He tells Sky News the chancellor scored "barely five" out of 10 for his pre-Budget report.

1717 Chief Secretary to the Treasury Yvette Cooper tells the BBC that the government has "been straight" with people.

1716 Labour MP Tom Harris gives his reaction on his blog: A comprehensive stimulus package... the chancellor had much to say about (and to give away to) home owners, those who don't yet have a home, those without a job, those in work, pensioners, parents, small businesses, medium-sized businesses, large businesses you get the picture... A lot of politics, too: he repeated that the current crisis is global, not British... The most controversial announcement, I admit, is on proposals to raise the higher rate of tax. This is not the death of New Labour... it's about a new political culture. A comprehensive stimulus package... the chancellor had much to say about (and to give away to) home owners, those who don't yet have a home, those without a job, those in work, pensioners, parents, small businesses, medium-sized businesses, large businesses you get the picture... A lot of politics, too: he repeated that the current crisis is global, not British... The most controversial announcement, I admit, is on proposals to raise the higher rate of tax. This is not the death of New Labour... it's about a new political culture. Read more on Tom's blog.

1715 Reaction from Tory supporter Phil Hendren on his Dizzythinks blog: Yet again we are being told that we are in a "good position". Nobody really believes that. Apparently the Government has fixed the schools and hospitals in Britain... that is nonsense... the recession over within the next 18 months according to the Chancellor. A hostage to fortune? He's going to pay his child tax credits increases early. Slight problem, the uptake of tax credits is appallingly bad. Yet again we are being told that we are in a "good position". Nobody really believes that. Apparently the Government has fixed the schools and hospitals in Britain... that is nonsense... the recession over within the next 18 months according to the Chancellor. A hostage to fortune? He's going to pay his child tax credits increases early. Slight problem, the uptake of tax credits is appallingly bad. Read more on Phil's blog.

1712 Professor Peter Spencer, chief economic advisor, Ernst & Young Item Club This statement says more about the shocking state of the public finances inherited by Alistair Darling from Gordon Brown than it does about the recession or the measures he's taking to try to deal with it. The recession now hitting hard, we're looking at public borrowing reaching a cool £118bn, 8% of GDP next year. In 2012/13 he is still going to be borrowing £70bn - that's almost £50bn more than he anticipated for that year back in April.

1708 Former deputy prime minister John Prescott says the PBR was "extraordinary" and that there is "clear division" between Labour and the other parties. Ex-Tory leader Iain Duncan Smith says the national debt will double and that borrowing next year could be £150bn, rather than the £118bn predicted by Mr Darling. Former Lib Dem leader Sir Menzies Campbell calls the event a "big wasted opportunity".

1708 The atmosphere in the Commons chamber has quietened, with many MPs filing out. BBC political editor Nick Robinson says the pre-Budget report is designed to offer a definite "choice" between Labour and Tory policies. There is not a "bombshell" in terms of a surprise, but there will be a "shock" for many when the changes kick in, he adds,

1707 Former Conservative Chancellor Ken Clarke tells MPs the recovery will be "long and painful", under the course of action planned by the government.

1707 BBC political correspondent Iain Watson: Vince Cable for the Lib Dems - the man who once seemed to be a doom-monger for predicting a credit crunch - says income tax rather than VAT should have been cut. Vince Cable for the Lib Dems - the man who once seemed to be a doom-monger for predicting a credit crunch - says income tax rather than VAT should have been cut.

1647 Labour supporter Hopi Sen's blog:So here's the choice. Do we want to push the economy forward, help consumers with lower VAT, offer tax relief for middle income households, lower fuel prices, have up front capital spending and help for small businesses? Or do we want to do nothing and hope that low interest rates will solve the problem eventually? So here's the choice. Do we want to push the economy forward, help consumers with lower VAT, offer tax relief for middle income households, lower fuel prices, have up front capital spending and help for small businesses? Or do we want to do nothing and hope that low interest rates will solve the problem eventually? Read more on a blog from the back room.

1644 Liberal Democrat Treasury spokesman Vince Cable says income tax cuts for low earners would be more effective in stimulating the economy. Liberal Democrat Treasury spokesman Vince Cable says income tax cuts for low earners would be more effective in stimulating the economy.

1642 There is much shouting and ill feeling in the chamber, with the Speaker repeatedly warning MPs to behave.

1640 Mr Darling says the shadow chancellor has shown he is "not prepared to take any action".

1638 Families will be worse off under the chancellor's plans, Mr Osborne says. The Tories offer "fiscal sanity", he adds, amid a frenzied atmosphere.

1635 Mr Osborne says Labour has "forgotten past mistakes" and should show fiscal responsibility.

1631 BBC political correspondent Iain Watson: The shadow chancellor tries to portray the government's measures as a way of digging themselves out of the 10p tax hole rather than genuinely boosting demand in the economy. The shadow chancellor tries to portray the government's measures as a way of digging themselves out of the 10p tax hole rather than genuinely boosting demand in the economy.

1632 The shadow chancellor says the prime minister "did not fix the roof when the sun was shining", to Conservative cheers.

1631 Mr Osborne rubbishes Labour's record, saying it was "ludicrous" of the prime minister to say he had "abolished boom and bust".

1630 Mr Osborne says chancellor's statement is "all about the political cycle and not the economic cycle".

1629 BBC political correspondent Iain Watson: And there's the first use of the 'tax bombshell' attack by shadow chancellor George Osborne - that was a hugely successful campaign strategy against Labour in 1992. And there's the first use of the 'tax bombshell' attack by shadow chancellor George Osborne - that was a hugely successful campaign strategy against Labour in 1992.

1628 BBC political correspondent Iain Watson: The chancellor ended there on a highly political note - the pressure is now on his opposite number to sound statesman-like and political at the same time. The chancellor ended there on a highly political note - the pressure is now on his opposite number to sound statesman-like and political at the same time.

1626 Shadow chancellor George Osborne is addressing MPs. He says Mr Darling will double the national debt to £1 trillion. He is leaving an "unexploded tax bombshell", Mr Osborne adds.

1626 The state pension for single people will rise from £90.70 a week to £95.25 next April, the chancellor says as he brings his statement to an end.

1625 The increase in child benefit will be moved forward from April to January.

1624 The pension credit will increase from £124 to £130 a month for single people, the chancellor says.

1624 Mr Darling says the new vehicle excise duty bands will be phased in. The maximum increase next year will be £5.

1623 So a quick round-up. VAT to be cut from 17.5% to 15% for a year from next Monday - but alcohol and tobacco rates won't be cut. If Labour wins the next election National Insurance is to go up by 0.5p and a new 45% income tax rate brought up on earnings over £150,000. Darling has slashed growth forecasts for the UK to between -0.75% and -1.25% in 2009.

1619 "Raise the tax threshold allowing us to keep more of our earnings. Remove VAT from gas, electricity and other utility bills."

Brian Stephenson, Gateshead, UK Have Your Say "Raise the tax threshold allowing us to keep more of our earnings. Remove VAT from gas, electricity and other utility bills."

1618 "So a cut in VAT, but he didn't miss the chance to hike up fuel, tobacco and alcohol taxes. Will these taxes be reduced when the VAT rate is raised in 13 months time? I think not."

B, Bury, UK Have Your Say "So a cut in VAT, but he didn't miss the chance to hike up fuel, tobacco and alcohol taxes. Will these taxes be reduced when the VAT rate is raised in 13 months time? I think not."

1613 BBC political correspondent Iain Watson: A new panel being set up to monitor lending levels is likely be described by the opposition as a rather weak way of trying to get baled out banks to lend more. A new panel being set up to monitor lending levels is likely be described by the opposition as a rather weak way of trying to get baled out banks to lend more.

1616 The chancellor promises £15m to offer debt advice.

1616 "Petrol prices are plummeting at the moment. Increasing fuel tax is the right thing to do. I appreciate that might not be popular, but it is responsible."

VP, Gloucester, UK Have Your Say "Petrol prices are plummeting at the moment. Increasing fuel tax is the right thing to do. I appreciate that might not be popular, but it is responsible."

1615 Reposession should be the "last resort" for mortgage lenders, the chancellor tells MPs. There should be three months' grace for those struggling with payments, he says.

1614 The chancellor says he wants to improve the supply of mortgages. The government "will work up a detailed scheme" by the Budget next spring, he adds.

1613 BBC political correspondent Iain Watson: The chancellor's threatening of companies with measures to get energy prices down for the least well off - should help stave off demands for a windfall tax from unions and the left wing of his party. The chancellor's threatening of companies with measures to get energy prices down for the least well off - should help stave off demands for a windfall tax from unions and the left wing of his party.

1611 The chancellor says the economic recovery must "support our environmental objectives", with the transition to a "low-carbon world continuing" continuing.

1610 The chancellor says the government will provide an extra £100m to help households improve insulation.

1609 Air passenger duty will be reformed so that those who travel furthest pay most, Mr Darling says.

1608 BBC political correspondent Iain Watson: The National Insurance rise announced of 0.5p is the sting in the tail - a tax rise by any other name. But the new higher income tax rate of 45pc - after the election - will cheer Labour backbenchers even though it raises relatively little cash

1607 BBC political correspondent Iain Watson: The relief for empty properties has been pushed by many Labour backbenchers and apparently had the support of the chief whip Nick Brown so this defuses a potential labour rebellion as well as helping busineses. The relief for empty properties has been pushed by many Labour backbenchers and apparently had the support of the chief whip Nick Brown so this defuses a potential labour rebellion as well as helping busineses.

1605 The chancellor promises £1bn for a temporary Small Business Finance Scheme.

1605 The government is closely monitoring banks' commitments to ensure lending facilities for firms are maintained, Mr Darling says.

1604 Mr Darling says small businesses will have a temporary increase in tax relief thresholds for empty properties. There have been reports of firms knocking buildings down to avoid the charge. From today, firms facing difficulties will be able to spread the timetable for paying taxes, he adds.

1603 BBC political correspondent Iain Watson: The VAT cut is the centrepiece and the chancellor immediately hits out at the Conservatives, suggesting they would do nothing - he will also make permanent the measures designed to help most of those who lost out from 10p rate - the policy most toxic with Labour supporters during Brown's darkest days in the summer. The VAT cut is the centrepiece and the chancellor immediately hits out at the Conservatives, suggesting they would do nothing - he will also make permanent the measures designed to help most of those who lost out from 10p rate - the policy most toxic with Labour supporters during Brown's darkest days in the summer.

1601 The Budget will be brought back into balance by 2015/16, the chancellor says.

1601 Alcohol, tobacco and petrol taxes will be raised to offset the VAT cut, Mr Darling says.

1600 Mr Darling says that, from April 2011, a new 45% income tax rate will be charged to those earning above £150,000 a year.

1557 The temporary £120 allowance for people who lost out as a result of ending the 10% income tax rate will be made permanent, with the amount rising to £145.

1556 The chancellor says he would like retailers to pass on the VAT cut as quickly as possible.

1555 Mr Darling says VAT will be cut from 17.5 to 15% until the end of next year, coming into effect next Monday.

1554BBC political correspondent Iain Watson: Bringing forward spending will shore up support on Labour benches - especially social housing - but many projects are too complex to bring forward quickly Bringing forward spending will shore up support on Labour benches - especially social housing - but many projects are too complex to bring forward quickly

1554 Mr Darling says £3bn of capital spending will be brought forward from 2010/11. This will include housing and road projects, he adds.

1552 BBC political correspondent Iain Watson: Those efficiency are generally seen as a pain free way of cutting government spending but could lead to civil service job losses in a recession. Those efficiency are generally seen as a pain free way of cutting government spending but could lead to civil service job losses in a recession.

1554 The government will find a further £5bn in efficiency savings in 2010/11, the chancellor says.

1553 The chancellor promises to continue "improving" public services and ensuring "value for money".

1552 UK net debt will remain below that of many countries, the chancellor says. Doing nothing would create a "deeper and longer recession", he tells MPs.

1550 BBC political correspondent Iain Watson: We've just been told borrowing will be 8pc of GDP within two years - that's higher than the percentage borrowed under the Labour government of the seventies. There is Opposition incredulity that everything will be on an even keel by 2015/6, as Darling says it will then be a case of borrowing only to invest again. We've just been told borrowing will be 8pc of GDP within two years - that's higher than the percentage borrowed under the Labour government of the seventies. There is Opposition incredulity that everything will be on an even keel by 2015/6, as Darling says it will then be a case of borrowing only to invest again.

1549 Government borrowing will rise to £78bn this year and £118bn next year, Mr Darling says.

1548 From Steve Schifferes, BBC economics reporter: The new economic forecast of growth next year from -0.75 to -1.25% is a sharp turnaround from the previous forecast of +2% growth. Probably the biggest ever.

1548 The chancellor says tax revenues will fall significantly in the near term. It is right to ensure fiscal stability in the medium term, he adds.

1547 Mr Darling says increasing borrowing will help families. The PBR represents a £20bn fiscal stimulus, he adds.

1544 Outlining the economic forecast, Mr Darling says UK GDP growth this year as a whole is expected to be 0.75%. Output will continue to fall for the first half of next year. GDP is expected to fall to between minus 0.75 and minus 1.25% next year, he adds.

1541 BBC political correspondent Iain Watson: Monetary policy is not enough says chancellor so we will soon get the political dividing line with Conservatives on fiscal policy set out - ie whether its right to borrow to fund short term tax cuts. Monetary policy is not enough says chancellor so we will soon get the political dividing line with Conservatives on fiscal policy set out - ie whether its right to borrow to fund short term tax cuts.

1542 The chancellor says inflation is expected to continue to fall.

1540 The chancellor says the UK economy is in a position of "relative strength" compared with rivals. The Conservative benches erupt with laughter. But Labour MPs cheer as Mr Darling says his party "did fix the many roofs that needed fixing".

1539 "What the government should be doing is tightening its belt, not borrowing yet more money to spend on ever increasing numbers of civil servants."

Charlie, Cwmbran, UK Have Your Say "What the government should be doing is tightening its belt, not borrowing yet more money to spend on ever increasing numbers of civil servants."

1534 BBC political correspondent Iain Watson: The chancellor emphasises the importance of working with other countries - this is part of the political strategy to suggest the Conservatives are out of step with global opinion The chancellor emphasises the importance of working with other countries - this is part of the political strategy to suggest the Conservatives are out of step with global opinion

1537 The Commons speaker Michael Martin tells Tory MP Michael Fabricant to be quiet.

1535 The government has to work closely with other countries, the chancellor says. The UK will "take the lead" to prevent a recurrence of problems.

1533: BBC political correspondent Iain Watson Laughter from the opposition as the chancellor insists that financial problems emanated from America and aren't due to homegrown policies- a key political dividing line. Laughter from the opposition as the chancellor insists that financial problems emanated from America and aren't due to homegrown policies- a key political dividing line.

1531 The chancellor says he wants the UK to live within its means and the government to make the slowdown shallower and shorter.

1531 The statement is under way. Mr Darling says he wants to take "fair and responsible" steps to help businesses and the economy. The statement is under way. Mr Darling says he wants to take "fair and responsible" steps to help businesses and the economy.

1528 The chancellor has entered the House of Commons.

1526 Novelist Richard Kelly's blog:Today, incredibly, finds Brown and Darling riding a (shaky, treacherous) wave of momentum... I don't believe Cameron believed any of this before his poll lead took a bashing but it seems he's now prepared to argue only for 'fully funded' tax cuts. Who can afford to wait around for that day that never comes? Meanwhile the Darling/Brown prescription seems to be a short, sharp fiscal stimulus to boost consumption... we the people are going to pay for all of this, fairly soon too. It's all a bit too dramatic, really; a good job that it's only our lives and livelihoods that are at risk here. Today, incredibly, finds Brown and Darling riding a (shaky, treacherous) wave of momentum... I don't believe Cameron believed any of this before his poll lead took a bashing but it seems he's now prepared to argue only for 'fully funded' tax cuts. Who can afford to wait around for that day that never comes? Meanwhile the Darling/Brown prescription seems to be a short, sharp fiscal stimulus to boost consumption... we the people are going to pay for all of this, fairly soon too. It's all a bit too dramatic, really; a good job that it's only our lives and livelihoods that are at risk here. Read more on Richard's blog.

1513 BBC political editor Nick Robinson tells Daily Politics the VAT cut is designed to have a "confidence effect", even if the impact on people's finances is not necessarily huge.

1511 The chancellor is standing on the steps of the Treasury with his team, all holding copies of the PBR. He refuses to answer questions from the press and broadcasters.

1510 BBC business editor Robert Peston tells the Daily Politics pre-Budget report special on BBC Two that the chancellor is planning to borrow a "colossal" amount.

1508 "A few months ago they wanted us to save money. Now they want us to spend money."

Ric Gibson Have Your Say "A few months ago they wanted us to save money. Now they want us to spend money."

1505 Plaid supporter Ian Johnson's blog:It looks to be a very damp squib... the government could cut the amount of income tax paid by standard-rate tax-payers and let that money filter through into the real economy, helping low-earning families and taking a good few people out of the tax trap altogether... Brown and Darling are fiddling while our economy burns. Or will there be a surprise this afternoon? It looks to be avery damp squib... the government could cut the amount of income tax paid by standard-rate tax-payers and let that money filter through into the real economy, helping low-earning families and taking a good few people out of the tax trap altogether... Brown and Darling are fiddling while our economy burns. Or will there be a surprise this afternoon? Read more on Ian's blog.

1458 The hacks are assembled outside the Treasury, awaiting Mr Darling and his team.

1445 Business is under way for the day in the House of Commons. It is work and pensions questions time. Tory MP Philip Dunne complains that unemployment is rising in his Ludlow constituency, criticising Labour's management of immigration and the economy. Work and Pensions Secretary James Purnell says he understands why people are worried about the economic situation and that the government is working to combat problems. Labour MP Peter Hain says things were far worse under the Conservatives, and that the Thatcher and Major governments did not do enough to alleviate the situation. This feels like a practice for the main themes to be debated later.

1438 Labour MP and Commons Treasury committee chairman John McFall says a lot of the fiscal stimulus package will pay for itself in increased tax returns for the government from money injected into the economy. But his fellow committee member, Tory MP Michael Fallon, tells Sky News that this will only mean one or two billion pounds, which is no more than the interest on the total amount of borrowing.

1437 The New York Stock Exchange has opened, with a large Father Christmas figure from the department store Macy's ringing the starting bell. Mr Darling has been known to play Santa at Christmas parties for children, giving out presents with an air of festive jocularity a million miles from his public persona. Will the electorate feel as grateful as the kids come this evening?

1422 Conservative MP John Redwood's blog: What should Mr Darling do today? He could begin by apologising for the leaks. He is right to delay his increase in profits tax on small business and the extra vehicle excise duty on cars we already own - better still just to cancel those proposals... nothing is going to work to reflate the economy unless the banks work... He should revisit the capital adequacy framework, the interest rates and the support package for the banks. In that lies the answer to the credit crunch, not in the level of VAT. What should Mr Darling do today? He could begin by apologising for the leaks. He is right to delay his increase in profits tax on small business and the extra vehicle excise duty on cars we already own - better still just to cancel those proposals... nothing is going to work to reflate the economy unless the banks work... He should revisit the capital adequacy framework, the interest rates and the support package for the banks. In that lies the answer to the credit crunch, not in the level of VAT.

Read more on John Redwood's blog.

1421 Labour MP Tom Harris's blog: The right-wing blogs are having a collective hissy fit... I can't make up my mind whether it's because they're genuinely upset at the prospect of the government's economic plans being successful (which we all hope for, don't we, people?) or because they reckon today's announcements will bag the next election for them. If the latter, why the ostentatious outrage?

Read more on Tom Harris's blog. The right-wing blogs are having a collective hissy fit... I can't make up my mind whether it's because they're genuinely upset at the prospect of the government's economic plans being successful (which we all hope for, don't we, people?) or because they reckon today's announcements will bag the next election for them. If the latter, why the ostentatious outrage?

1419 In the US, President-elect Barack Obama is due to name his economic team. We already know that Timothy Geithner, the New York Federal Reserve president, is to become Treasury secretary, while Lawrence Summers, a Treasury Secretary under former President Bill Clinton, will take over the National Economic Council. It is reported that Mr Obama wants to push for tax cuts for low and middle-income households.

1413 The FTSE 100 index of leading shares continues to have a good day. It is up almost 5% in today's trading.

1411 For the Conservatives, shadow work and pensions secretary Chris Grayling says his party will not comment on what is in Mr Darling's pre-Budget report until all the "smallprint" is pored over. We can still expect some heated exchanges in the Commons chamber, though.

1408 The grey skies over Westminster have turned blue. It should be just under an hour until Mr Darling, briefcase in hand, and his fellow Treasury ministers emerge from 11 Downing Street, before making their way to the Palace of Westminster.

1400 Lindapierre: on TwitterWhat about prices, will this be a reality to "normal" people or only to rich people? What about prices, will this be a reality to "normal" people or only to rich people? Read more on Twitter

1357 Whoever Mr Darling uses for his shadow-boxing, with just over an hour and a half to go, the tension is building. The report is already written and, one suspects, so is the accompanying statement. It must be like waiting to make a wedding speech to a crowd of hostile in-laws - and all in front of millions of people. Whoever Mr Darling uses for his shadow-boxing, with just over an hour and a half to go, the tension is building. The report is already written and, one suspects, so is the accompanying statement. It must be like waiting to make a wedding speech to a crowd of hostile in-laws - and all in front of millions of people.

1356 A couple of weeks ago, shadow chancellor George Osborne let slip that Tory leader David Cameron prepares for prime minister's questions every week by getting shadow schools secretary Michael Gove to impersonate fellow Scot Gordon Brown. I wonder if Mr Darling is using a member of Labour's frontbench team to pretend to be Mr Osborne? Another youngster, one suspects. Energy and Climate Secretary Ed Miliband? Culture Secretary Andy Burnham? Or, before his afternoon espresso, Cabinet Office Minister Liam Byrne?

1344 "I would like to see the government offer more help towards childcare costs for working parents. I work full-time and cannot afford to pay for childcare as the cost is too high."

S Begum, London, UK Have Your Say "I would like to see the government offer more help towards childcare costs for working parents. I work full-time and cannot afford to pay for childcare as the cost is too high."

1343 Lib Dem supporter James Graham, Quaequam Blog: I'm cautiously optimistic about the rumoured plan of a 2.5% drop in VAT... If spending on the high-street is down a couple of percentage points, dropping VAT by about the same amount could save real jobs... In my personal utopia, we wouldn't have it in the first place... Cameron and Osborne have rubbished it. That should surprise no-one because VAT is the tax of choice for the Conservatives. I'm cautiously optimistic about the rumoured plan of a 2.5% drop in VAT... If spending on the high-street is down a couple of percentage points, dropping VAT by about the same amount could save real jobs... In my personal utopia, we wouldn't have it in the first place... Cameron and Osborne have rubbished it. That should surprise no-one because VAT is the tax of choice for the Conservatives. Read more on the Quaequam Blog.

1332 "This will be the first time I vote Conservative. I work 100 hour weeks for my salary of £150K+. I am not a banker, I don't speculate and I don't borrow. I only buy what I can afford and now I am being asked to bail out many who are profligate."

KL, London, UK Have Your Say "This will be the first time I vote Conservative. I work 100 hour weeks for my salary of £150K+. I am not a banker, I don't speculate and I don't borrow. I only buy what I can afford and now I am being asked to bail out many who are profligate."

1331 BBC business editor Robert Peston says borrowing is rising to levels not seen outside of wartime. He says that Alistair Darling faces a "really tricky balancing act" in trying to get people to spend any extra money from short term tax breaks if they fear future tax rises. BBC business editor Robert Peston says borrowing is rising to levels not seen outside of wartime. He says that Alistair Darling faces a "really tricky balancing act" in trying to get people to spend any extra money from short term tax breaks if they fear future tax rises.

1324 "This is short term thinking in a blatant attempt to bribe the electorate."

Irene, Newcastle, UK Have Your Say "This is short term thinking in a blatant attempt to bribe the electorate."