So, we’re all settled in our departments and have been for just over a month.

I’m in Public Affairs and yesterday’s Budget provided me with a taste of the manic nature of politics. Edelman’s analysis, available here, was produced and sent out yesterday afternoon in double quick time.

Now, there were no fireworks – Alastair Darling focused on ’stability, stability, stability’ and weathering the current economic storms so we’re prepared for the future. This might seem like a sensible plan but it earns him no sympathy from the press. This is well evidenced in today’s national newspapers who continue to refer to him as the Puppet Chancellor. Today’s newspapers are a key starting point for anyone looking to get an idea of the real impact of the Budget – the devil is always in the detail, and the finer points, such as benefits and tax, are explored in commentaries, interviews, etc.

So, how will this Budget affect young people? Perhaps a more pertinent question is ‘does this Budget affect young people particularly’? With many recent social problems, eg binge drinking, healthy eating and rising house prices, being put on the shoulders of youth, it would be surprising if measures were not laid out in the Budget. But we already know that it was all about stability rather than making great inroads in these problem areas.

A few key points:

- Alcohol prices are up. Beer by a few pence, wine by 14p and bottled spirits up by 55p.

- Fuel will go up by 2p a litre in October, and another 0.5p in 2010.

- For those interested in getting on the property ladder, the Government has opened up affordable housing schemes so key workers, such as nurses and teachers, and first time buyers will be able to borrow money from shared equity schemes when they can afford to buy 50% of their home. And pledged to spend on building more affordable housing.

- There will be no stamp duty for those in shared ownership schemes until you own 80% of the property.

- Capital Gains Tax will be 18% which hits businesses hard but there are concessions for entrepreneurs. This links in with the Government’s pledge to increase spending on the academies schemes which targets over 16s who have left school, and encourages them in business. This is a triumph for Peter Jones, of Dragon’s Den fame, who has supported these schemes for instilling an American style ‘I can’ attitude’ instead of the British ‘Can I?’.

And finally, something for our grandparents – Winter Fuel Allowance for the over 80s has been increased.

No fireworks but stability will be difficult enough to achieve – inflation is up and Darling has promised to bring it back by next year. Increased costs affect everyone and it will be interesting to see whether this promise can be delivered amongst a turbulent political, and economic, backdrop.

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