BBC News | In pictures: Blair and the UK economy, TAXES AND SPENDING

TAXES AND SPENDING

Tight public spending in Labour's first term gave way to big increases in the second term and a growing public sector deficit.

After Mr Blair's departure, the growth of public spending is set to slow, to keep the budget under control.

By 2012, taxes and spending will be back to 1997 levels.


In pictures: Blair and the UK economy

	TAXES AND SPENDING Tight public spending in Labour's first term gave way to big increases in the second term and a growing public sector deficit. After Mr Blair's departure, the growth of public spending is set to slow, to keep the budget under control. By 2012, taxes and spending will be back to 1997 levels.