Chancellor Alistair Darling blames the economy and the drop in house values for a decrease in tax revenues. Falling tax revenues, together with the dramatic economic problems and a sharp decrease in stamp duty, have meant that tax is now, as a percentage of GDP, 1.2% lower than a year ago. Darling says that he will embark on fiscal easing of half percent of GDP this year and 0.8% tightening until 2013/2014.