David Cameron is always at his best on budget day. This week his response was mocking. He dismissed as nonsensical the projections and figures which Alistair Darling gave to the House. And rightly so: it was the usual mixture of fairytale economics. But it was in keeping with Gordon Brown’s budgets — creative accounting applied to a nation, with cataclysmic results.
It is almost funny to hear Mr Darling talk about the fact that the government overspend will be £167 billion this year rather than £178 billion. Both figures represent a monumental failure of the policy adopted by the government. Our national debt will rise from £617 billion last year to £1,400 billion in 2014-15 — and the Chancellor had the audacity to describe this as ‘halving of borrowing’. Having run out of a statistical means of concealing debt, he is using verbal trickery. The annual increase in debt may halve over the four years, but the burden government places on taxpayers will more than double.
It is tragic — yet typical — that the loudest cheers from the Labour benches on budget day came not in response to fiscal plans but from blatant Tory bashing.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in