The government is on the defensive. The IFS’ pronouncement that the Budget was ‘regressive’ and the VAT hike ‘avoidable’ has given sustenance to the opposition and their
supporters in the media.
At the time, Harriet Harman’s response to the Budget seemed execrable. Now, I’m not so sure. Harman is like a Swordfish bi-plane attacking a battleship: she is so slow and obsolete that her superior opponents cannot bring their modern guns to bear. So she closes the range and scores a hit. Tuesday was one of her more successful strikes. As John Rentoul notes, Harman had a point beneath the bluster. The OBR is George Osborne’s weak spot; it downgraded growth forecasts in light of his Budget. It is being argued that Osborne is doing more harm than good. Why would he risk such regression? Ideology.
Up to a point, James’ analysis
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