OK, only skimmed so might be repeating but here's my two-penn'orth:
Need:
Car seat if you have/use a car
Cot - no need to use Moses basket or crib - cot can be second hand but buy a new mattress.
Pram/pushchair - if you walk a lot, look at travel systems inc carrycots. If you mostly drive, look at lightweight strollers (Maclaren type). Could use sling from birth then a 6 mths plus stroller, as they are cheaper/lighter than the ones that lay flat
Sleepsuits and vests - supermarkets/Primark are cheap. Asda & Tesco have some pretty cute cheap stuff. You will get given clothes, so get the bare minimum for now.
Nappies - re-usable are only cheaper if you use them a lot of the time, so be realistic and honest with yourself!
Don't buy/could use alternative:
Top & tail bowls - any plastic tubs will do.
Changing mat - not essential, could just use a folded towel - easy to clean too!
Changing bag - if you join Boots parent club you usually get one free with a pack of Huggies nappies. If not, buy big cheap bag eg Primark - put a small towel in as a changing mat.
Special BF clothes aren't necessary - I used tops I could lift up and stick her on from underneath - cardigan hid the muffin top at the sides! Those tops with the slits only work if your nipples are in the right place and your baby doesn't mind snuffling through the fabric!
Cheap stuff:
Baby sleeping bags - can't use from newborn, but great when bigger - TK Maxx usually have some at £10
Second hand toys - NCT nearly new sales - go on the NCT website and it tells you what's coming up in your area. I bought a Fisher Price baby piano thingy for £3 last year, and one of those Tiny Love mobiles for £8 that cost nearly £40 new! Good for things like baby chairs/bouncers/swings - also check out Freecycle. Obviously it depends where you are as to how big your sales are and what sort of stuff there is/how much people charge at NCT sales.
Highchair - after 6 months - Ikea. about £12 - wipe clean plain white plastic - can take legs off to take in car if visiting someone - brilliant.
And I agree with above poster in getting at least 1 bottle and a couple of little cartons - just in case. They are expensive for the little amount in them, but if you buy a tin and don't use it that's even more pricey! I ended up pouring the cartons onto cereal at the weaning stage as I hadn't used them. If you haven't got a steriliser you can sterilise bottles in a pan of boiling water.