Britain's Chancellor Mr Gordon Brown today played down charges of electioneering. He said his annual budget was designed for the long-term rather than just a few months.
In an interview on BBC television a day after unveiling his annual budget which introduced a modest package of spending measures and tax cuts, Mr Brown said: "We should never take anything for granted, never be complacent".
Mr Brown's budget comes just weeks before Labour is expected to go to the polls to seek a second term. The election date is widely tipped for May 3rd.
The budget, which included a widening of the lowest tax band, was designed to present a balanced approach with investment and tax cuts where affordable, Mr Brown said.
He also dismissed the Tory claim he was merely giving taxpayers' money back that he had originally taken from them.
"What the Tories want are election budgets that are unaffordable and where the price has to be paid a year later," Mr Brown said.
Earlier Mr Brown told GMTV he had made a mistake by raising the basic state pension last year by a meagre 75 pence a week.
"I know we could have done better and that is why we have raised pensions by £5 and £8 a week this year," he told GMTV.
The government's aim was to reward pensioners and not penalise them as before, Mr Brown said.
In his budget he repeated his commitment to introduce a new pension credit in 2003, which will mean lower earners who save for retirement do not lose all their means-tested benefits.