The traditional levers of the economy are broken; spiked by the level of debt, which is Brown's legacy. People will save and not spend any tax cuts. Cut interest rates all you want, banks will not lend. We should be looking to cut the level debt in the economy, not be looking to stoke it up again

Colin, Birmingham,

Now there's a novelty, a Brown tax cut that will cost you more. The sooner this incompetent is gone the better.

Dave Bridge, Southport, UK

I'm broke. You're broke. What we gonna do? I know, I'll lend you some money and you can lend me some money. We can even securitise the transactions and sell them on. Job done!

Anthony Price, Truro, Cornwall, UK

tax cuts before Christmas, election in the Spring, tax increases in the Summer

Mike, Sole Street, England

In 1997 if my memory serves me correctly, employers' NIC was 10.3% of base salary with no upper limit - it is now 12.8% a rise of 24%. Since this is a direct payroll tax paid even by companies that make a trading loss there is an obvious and simple adjustment to be made!

No tax credits please!

Mike , Newbury,

New Labour boasts it introduced the Minimum Wage
This has now been undermined due to the amount of tax the poorest workers in society pay.
Single adults and childless couples receive nothing they are being taxed to death
People go out to work to improve their lifestyle not to be worse off

Stephen Holmes, Withington, UK

Brown alone is responsible for the catastrophic state of the UK economy because it was his policies that encouraged the uncontrolled rise in borrowing and house prices. His legacy to the British people will be one of massive tax rises for generations to come to pay for his busted economy.

A.M. Williams, Stafford,

I notice once again it is families and business who will benifit. Business I agree with, but not all families are in need of assistance. Many singles and pensioners are on low incomes and need financial help as well, but are as usual they are excluded from the hand outs.

Surasak, Wimbourne Dorset, UK

Brown IS responsible for the collapse of the Uk economy. He allowed the unfinanced boom to occur creating the housing market bubble and now he is forced to condemn future generations unimaginable tax liabilities.

A.M. Williams, Stafford,

Temporary Brown, temporary stimulae, permanent debt and bankruptcy.

Gee, thanks Gordie! So much for your end to boom and bust. How foolish do you feel now?

Edwin, Bucharest,

This goverment is not on our side. Our economy is now the worst in the world, and they think we should be grateful to them for how 'well' they managing things.

Peter, London, UK

Fiscal Policy:
personal taxes go down + borrowing up
= demand up mostly for imports
Result? No British benefit and Pound goes down

Monetary Policy:
interest rates go down
= personal debt up mostly to buy imports
Result? No British benefit and Pound goes down

Pound down = Inflation up

Jim Murray, Liverpool, UK

Brown Failed as Minister for Finance and is again failing as Prime minister,However I guess Blair saw this coming and jumped ship just in time.
Bottom line is that the current leadership has been found wanting,big time.

If you dont have it,dont spend it

michael Wilkinson, TELFORD, UK

It is the way these bloody politicians claim success for every faux pas they are involved in that is so amazing. They stagger from disaster to disaster and walk off with complete immunity and handsome rewards for their endeavours whilst burdening everyones future with misery of high taxation

Mike O Connor, Plymouth,

Perhaps the Pirates in the Indian Ocean have been taking tips from Zanulab?

Rob Bain, Derby,

'blindingly obvious' I would have thought...

cww, Ipswich, UK

Will this all part of Browns' great socialist plot ? - tax increases for the hardworking middle classes enabling him to spend to his hearts' content and give free handouts to the poor? How long before the 'structural adjustment' is a top rate of income tax of more than 50% - not too long I think.

Steve, London, UK

I get confused over who is or is not talking down the Economy. Ideas anyone?

Mike, Huntingdon,

Brown's economic ideas reminds me of a bad gambler playing 'double or quits'. If we have to borrow more now why not fund the tax cuts with a temporary additional tax on profits from the bailed out banks and the sale of the cheap shares the Gov bought. Better this than Labour's hated middle England

Ben, Manchester, UK

A tax cut before the next election with a tax hike after?

We have heard this rubbish before.

Note the tax cut for families ... and then a wee bit more detail (joint income <£15K)

Couple with no kids, both working forget any tax cut.

Mandelson the Unelected Minister of Fat Cats

Rashef Kamill, Dover, England

I think Brown knows that he will get thrashed in 2010,what we will see before then is scorched earth policies hoping that they will be returned in 2014/5.His tax "give away" will be aimed at traditional labour voters i.e the low paid and breeders who cannot afford children and the benefit leechers.

Kenneth O'Boyle, Perth, UK

It's not our money he's spending, he's already squandered that. It's our childrens money this time, or is it our children's children's

Dave, Winchester,

No surprise here really! Everyone should know that its in one hand out of the other with any Government + a little bit extra!

Lee, Manchester,

Lower the tax rate, encourage people with no money to spend more, raise the rate and they will be poorer than they ever were. This will not encourage sensible people to spend but more to save as much as possible re any tax cuts and use this to pay the bills when the tax rate goes through the roof.

Sinead, Windsor,

I feel the proposed tax cuts will be the same as the 10p tax fiasco. Those of us who retired early from work, are under 60, have no dependant children, nor in receipt of Tax Credits will receive no help at all. What does Mr Darling or Mr Brown (which one is the Chancellor?) intend to do about this?

K Field, Lincoln, England

It is the people who can and do pay off their debts who will pick up the tab for the criminal lending practices of the banks here and across the globe. The same people will also have to stump up for higher taxes to pay off the bribes Labour plans to give to those on low pay and the welfare state.

David Smith, Stourbridge, UK

I would suggest that any tax cuts are likely to be ineffective since expectations of future tax rises are now set. Given a tax cut this year only to pay higher taxes next year, and given the expected rise in unemployment, what would you do? Save.

malcolm, ely,

So the responsible poor will be taxed yet again to give handouts to the irresponsible breeders, and then taxed more later. Brown is a smug naive fool who is single handedly wrecking Britain, and the opposition is deafeningly inadequate. We are all well stuffed.

C Smith, Norwich, UK

With oil prices having dropped like a stone since July why o' why haven't fuel prices dropped considerably as well back to about 75p a litre. Dropping fuel prices will drop inflation.

Louis, Liverpool, UK

Am I the only one who thinks that the fiscal and monetary powers of the State should be beyond the reach of professional politicians?

James David, Newcastle upon Tyne,

this government has set an irresponsible example from day 1. why would it change now? tax up in the medium-term.... ha! as if gordon will be around after the next election. he should be in prison, but he'll be touring his speech.

jem, london, uk

They are targetting the wrong people/and or Labour voters primarily and this money will only buy a few extra beers and presents over Christmas!
We need business to get us out of this - to create jobs, create wealth and stabilise our economy - not tricks to bribe voters/the poor

G Morgan, Worcester,

usually im the first one to clamour for a tax cut. but these cuts arent structural, they are a bribe, that will cost us far more in the medium term than they will save us in the short term. our ecconomy needs to ween itself off public spending and thinking high street shopping is the cure all.

will, grimsby, uk

To give us tax cuts now is, in my opinion, a very short sighted view on things. We the public will end up storing up bigger debts as a whole and action like this could cause an even bigger recession than the one we're about to face now (although that would probably be AFTER the general election!)

Paul Simms, London, England

There will be a gilt buyers strike. The IMF will have no money left to help us.
So to restore credibility, Public sector borrowing levels and thus total government spending must now be set not by politicians but by the BoE. It was good for interest rate policy and will be good for funding.

N Reed, London, UK

As is the same with all Labour policies, one group get the benefit (rights) and another group pay for it (responsibility).

Bye bye Brown, the middle classes have had enough of it.

Ian, Tokyo, Japan

I don't think I've ever come across such a financially naive politician in all my life. Brown, get out now before we all go bankrupt.

Paul, Milton Keynes, UK

It wouldn't be so bad if the people who benefit from the forecast tax cuts are the same as those who will pay the brunt of the tax rises.

But I somehow doubt it.

John Wood, Hull, UK

So once again the Government orders us to eat drink and be merry today pay the bill later, preferably after the next election. On whose side are they?

S Yogarajah, Harrow, UK