Budget 2010: What the papers say

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The financial press is largely reporting the emergency Budget has been as scary as promised, with "bloodbath", "eye-watering", and "excruciating" all featuring among the headlines.

BBC In his analysis, Iain Watson, political correspondent at BBC News, says the coalition has decided "to get the shock of any spending cuts out of the way quickly" so that voters will be "feeling the pain less severely by the time of the next election". He also echoes Harriet Harman, the Labour Party deputy, who criticised both the Tories and Liberal Democrats for going back on their decision to increase VAT. "Before the election, they warned of a "VAT bombshell" which the Conservatives would explode after polling day. There are pictures of the Lib Dem leader - now the Deputy Prim...

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