George Osborne conjures up a budget trick, a poor one at that

The chancellor's giveaways are set out and costed in detail but the revenue-raising means to pay for them are somewhat sketchier

Budgets have a tendency to unravel. Sometimes it can take months for the problems to surface. More often they are exposed within 24 hours once the Institute for Fiscal Studies has sharpened its claws. But George Osborne's eighth package was a bit of a rarity. The holes in it were obvious even before he had finished speaking.

Related: From first-time buyers to pensioners - who will benefit from the 2016 budget?

Related: Budget 2016 live: Osborne hails 'sugar tax' on soft drinks but cuts growth forecasts

Related: George Osborne backs sugar tax and 3.5bn of Whitehall cuts