Looks like Moses is having a bad day. The latest IFS report is damning enough. It states:
Even if everything goes according to plan, the IFS points out that it will be "the early 2030s before debt returns below the ceiling of 40% of national income" that Gordon Brown set as one of his key fiscal rules in 1997.
then
"But there clearly is a danger investors will take fright at the state of the UK public finances," which would push up interest rates, the IFS says.
then
that the government "will have to impose a real freeze on public spending" for the three years of the 2010 Spending Review, which would leave spending £22bn lower than projected in the March 2008 Budget by 2013-14.
It appears that Cameron’s warnings on the level of debt are gaining traction. No more talk from Brown on Tory cuts once this report gets spun my the Tories.
And now this footnote, that a PPS has resigned over the Heathrow 3rd runway proposal.
Look out for a heated PMQ’s!
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2.8% decline by IFS but I think the IMF say 2.85 but a previous decline was forecast by the EC of 3.1% which is more realistic.
ReplyDeletebbc pundits say we are in the eye of the storm over houses etc., but have absolutely no credibility.
7000 jobs to be planned by Asda is being promoted as good news, but it will be interesting to see if they ever get to +100 in 2009