Osborne’s weak response

I was all set up to Fisk the post-Budget analysis which Darling normally gives to the Today programme after the Budget – but he wasn’t there. The Treasury refused to have him debate with Osborne which is what Today (unusually) seems to have assumed. Well, we’d best get used to hearing Osborne post-Budget day. At first, I thought it was a coup for the Tories – but as Evan Davis sharpened his claws, it soon appeared to have been a net negative. Osborne just didn’t sound confident. A series of exchanges left him looking unprepared.

His line – that he will eliminate ‘the bulk’ of the annual overspend over the lifetime of the parliament – was challenged: what does it mean? How does it differ from Darling’s pledge to halve the annual overspend over the same period? It doesn’t, really. I’m sure Osborne will reduce the overspend faster, but I’m also sure Labour would have to do this as well.