Tuesday, 25 November 2008

Spend And Tax.

Is it just Mr Smith, or does yesterday's Pre-Budget Report delivered by UK Chancellor Alistair Darling MP turn on its head the prevailing political and economic orthodoxies which have been operated in Britain for probably the last sixty years?

Does it really make sense to turn Britain into an trillion pound indebted nation that won't be able to balance it books until 2015/16 even on the basis of the UK Government's rather dodgy budget numbers in an attempt to lessen the impact of economic recession that will probably hit us all hard anyway.

Mr Smith is not convinced, and tends to the view that dodgy borrowing by banks and individuals is exactly what got the British and other global economies into this mess in the first place. If in the new world in which we live, individuals and households are expected to balance their books and not live beyond their means, can it really be right for the British Government to do otherwise?

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