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The economy: how do we adapt?

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25 Nov 2008

Matthew Taylor

There is page after page of newspaper analysis and comment of yesterday’s mini budget but the top line critiques of the package may be rather confusing to those without the time or inclination to dig deeper. Darling is criticised simultaneously for doing too little to boost the economy (there is widespread scepticism about the impact of the VAT cut), for borrowing too much and for raising taxes in two years to help pay for that borrowing (in fact, the Government’s main medium term strategy to tackle the deficit is tight restraint on public spending from 2010 onwards).