'A decade might be needed before our economy is really strong again.'
(Sir Geoffrey Howe, 26 February 1980)
At 3.30 this afternoon the Chancellor of the Exchequer presents his second Budget to the House of Commons. Although unemployment and inflation are rising, the Government is convinced that its tight monetary policies are the only way to cure the ills of the British economy.
David Dimbleby introduces the Budget Special with Peter Hobday explaining the impact of the Chancellor's measures and accountant
Philip Hardman on the effect of tax changes on personal and company budgets.

From Robin Day there is instant reaction to the Chancellor's measures with Trade Union leader David Basnett and industrialist Patrick Meaney. From the City of London Gavyn Davis and the BBC's computer analyse the effects of the Budget on the economy. From Sir Geoffrey Howe's home town of Port Talbot John Stapleton assesses one depressed areas reaction. From Westminster, political comment once the Chancellor's speech is over.

'Budget at a glance': Ceefax p 101