PB Week: Darling’s debt mountain
Watching the Budget can hardly be called fun at the best of times but when the economic statistics are this bad, it made horrifying viewing yesterday writes Andrew Tjaardstra, editor of Professional Broking .
We have the perfect storm: fast falling income tax – down £16bn, rising unemployment heading towards 3m, unprecedented levels of debt and a government that has no more money for new initiatives to help get us out of this mess. The next election will be won and lost on the economy, and Chancellor Alistair Darling is pinning all his hopes on a recovery "towards the end of this year" or at least one starting in the first quarter of 2010. After predicting a contraction in the economy of 3.5% for
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