A neutral Budget with a few surprises

George Osborne, the chancellor, introduced his second Budget yesterday saying: “This is not a tax-raising Budget, nor can we afford a give-away.”  Basically, he was completely constrained by the emergency Budget last year and the October Spending Review. He was further handicapped by a downgrade in the forecasts for economic growth, coming from the Office for Budget Responsibility. Only five … Continue reading

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The UK could lose 1.3m jobs as a result of the Budget

Surprise, surprise! According to the Guardian, a private Treasury assessment of the planned spending cuts says that up to 1.3m jobs could be lost over the next five years. The Guardian says that it has seen a slide from the final version of a presentation for last week’s Budget, which says that: “100-120,000 public sector jobs and 120-140,000 private sector … Continue reading

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What is the matter with them?

I have just recovered from the Budget this week, as it was even worse than I had anticipated. I keep writing in my blogs that extreme austerity packages are going to damage the economy but George Osborne is just not listening. What’s the point of me writing all this if he is not taking a blind bit of notice. I … Continue reading

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Pull the other leg, Mr Chancellor

Yesterday saw the arrival of the Budget we had all been waiting for. How was Alistair Darling, the chancellor, going to deal with an economy which is in severe recession and contend with government finances which have been so severely overstretched?   There was a bit of tinkering here and there with slight increases in taxes on alcohol, tobacco and … Continue reading

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