Mr Alistair Darling, the Chancellor of the Exchequer, in his pre-Budget statement, made hostile gestures at bonus-earning bankers to distract attention from the borrowings of £178 billion that Britain will have to make this year.
Mr Alistair Darling, the Chancellor of the Exchequer, in his pre-Budget statement, made hostile gestures at bonus-earning bankers to distract attention from the borrowings of £178 billion that Britain will have to make this year. ‘Efficiencies’ promised in some departments still left total borrowing at much the same level. In a pre-emptive strike, Mr Gordon Brown, the Prime Minister, attacked a ‘culture of excess’ among higher earners in the public sector, and promised to cut the salaries of senior civil servants. Lending to small and medium-sized businesses by Royal Bank of Scotland RBS (70 per cent state-owned) and Lloyds Banking Group (43 per cent state-owned) would not meet the levels they had agreed to, according to the National Audit Office.
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