So, predictably, it starts with a reference per sentence to the Global economic situation. Yawn, if repreated enough do they think I will believe?
I see the BBC has Ian Watson doing the analysis - i.e. pure politics. All he concentrates on are Labour's moves to try and box in the Tories.
Perfect really, a screwed economy and all the Government want to do is cling to power and bash the opposition. Just what we need.
All with borrowing by the Government up to 8% of GDP - back to the days of the 3 day week for the UK. All we need now are the power cuts to match the 1970's.
The prediction of 0.75% to -1.5% GDP retraction next year is highly optimisitic. Looking at the trend line from this year Q1 could be -1% alone.
It has just occured to me too that there is much EU pressure to harmonise VAT at 19% or 20%. perhaps this cut is being taken so that when the tax is raised again in 2 or 3 years we can sign up to the EU tax harmonisation programme.
to be continued...