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Tag Archives: fiscal policy

George Osborne faces a bleak set of circumstances ahead of this Wednesday’s budget. The UK economy is extremely fragile and we’ve just endured the ignominy of a sovereign downgrade.

The Conservatives, on top of that, are trailing in the opinion polls, with the Chancellor himself now a “net vote loser”. Oh – and having seen their party come third behind UKIP in the Eastleigh by-election, the Tory not-so-faithful are becoming ever more restive.
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George Osborne had an extremely difficult task last week, as he delivered his Autumn Statement. Our 41-year-old, relatively inexperienced Chancellor was batting, to say the least, on a sticky wicket.

Yet while he played a reasonably good game politically, as he delivered his Commons set-piece on Wednesday, I still believe that the economics of Osborne’s statement fell woefully short of what is needed to rescue the UK from its parlous state.

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