The cuts will be deeper than anyone realises

In the immediate aftermath of Monday's multi-layered pre-Budget report, attention mainly focused on who would win or lose from the various tax changes. Was Alistair Darling really out to soak the rich to pay for Labour's £20bn stimulus package? Or would those on taxable incomes between £20,000 and £40,000 find themselves paying more, too, once all the detail translated into concrete tax demands? Would the main VAT rate soar as high as 20% once the 13-month giveaway starting Monday is rescinded? Was whisky being clobbered unfairly?