There is a mass of detail to grapple with in Osborne's Budget - particularly in the area of welfare reform. Additionally, we will not know for some time how the remarkable 25% cuts will play out that he is lining up for the spending of 'non-ring-fenced departments' (= NHS, International Aid, and leniency for Education and Defence): more on that later.
But there's a bottom line to today's news: the reaction of T'Markets.
And the consensus is ... the AAA rating is safe.
In case anyone doesn't realise, that was the acid test. And how very corrosive it would have been to our prospects if he'd failed.
Even if there is ample scope to disagree with the details, on this alone there must be satisfaction. In the coming months and years, Labour will pooh-pooh the very possibility. Easily said, after the event.
PS: enjoyed listening to the apres-Budget comments of Simon Hughes, who seems to be pretty much on-side. Credit to Clegg, he is whipping in the LibDems, and the Coalition looks strong - for the time being: but what more could we ask for ?.