Today’s Budget was never going to be a good one for taxpayers. With the recession exacerbated by a Government wedded to high spending; shooting for a record debt level; and unwilling or unable to admit that there is such a thing as public sector waste, the question for many was simply “How bad is it going to be?” Unfortunately, the closer one looks, the worse the answer seems.
The TPA’s research team have been looking into different aspects of the Budget this afternoon to both put the Budget’s own figures into context and to investigate some of the small print of the Government’s plans. Predictably, more than a few Budget Nasties have reared their heads already.
First, let’s look at the national debt. Even at first glance, the numbers involved are huge, but in a historical context they are staggering.
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