Thursday, 19 March 2015
The Empty Budget and No Future Election 2015
Some 'reward' for savers, a bit of pork barrelling for Lib Dem and Tory marginal seats, another little smack for the Banks, a few other bits.
Overall, nothing was said and little was done.
The reaction in the media in the next few days will be interesting to see. Already Ed Balls has said there was nothing he would change in the Budget - surely this plays into SNP and UKIP hands, showing how little imagination the tow main parties have.
As ever with UK budgets, the hardest times are always ahead of us. In this case, the need for significant cuts in expenditure are set for next year and the year after; no coincidence that these will be the first of the electoral cycle. Sad though, that even 8 years after the Financial Crash, only 1/3rd of the real damage has been healed. There is much pain to come.
The ludicrous decisions to spend ever more on Health and Overseas Aid are going to come back to hit the Tories in the next few weeks, if it dawns on the media that many Government departments are going to whither away on the back of this decision, most importantly being defence.
With Labour also keen not to talk about the future, it will make for a bizarre election campaign.