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Econoblog

Discussion and analysis of the latest economic issues.

By Sean O'Grady, Economics Editor of The Independent.

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Not as bad as it might have been

Posted by Sean O'Grady
  • Thursday, 18 March 2010 at 02:56 pm
The borrowing is still bad, not as half as bad as it might have been. The long and short of it is that Alistair Darling will have maybe another £15bn to splash around in next weeks Budget. And just before an election! No guesses for guessing where he'll be spending it; on schemes that make the Tories look mean, bad and the friends of the very rich. If he is wise Mr Darling will also help industry by reducing its tax and regulation burden. Then his Budget might truly live up to its advance billing about supporting the recovery – and supporting Labour’s chances or re-election (better than you might think). The pain will come later.

Comments

borrowing
aardvark11 wrote:
Thursday, 18 March 2010 at 07:10 pm (UTC)
The long and short of it is that the borrowing figures are the worst ever February figures. The long and short of it is that there would be no talk at all of splashing around £15 billion if there was not a general election looming. I simply cannot believe anyone at all would fall for pre election give aways, but then again I cannot believe 30% of the electorate will vote Labour. The only thing I can agree with is "The pain will come later".
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