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Comforting data ahead of the budget

Comforting data ahead of the budget

As the Chancellor Alistair Darling puts his final touches to the Budget he will be relieved by the recent spate of comforting data. Last Wednesday we had employment statistics showing that the unemployment was falling. On Thursday the figures on public finances were far healthier than expected, with the Institute for Fiscal Studies estimating that the level of borrowing for the financial year will come in £12 billion lower than forecast in the last Pre-Budget Report. Today we had the inflation…

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Pre-Budget Report points to more money for construction…but a much bigger fall

Pre-Budget Report points to more money for construction…but a much bigger fall

Few would argue against the view that this set of Pre-Budget Report announcements has more to do with pre-electioneering that pre-budgeting. That’s fair enough. The Labour Party may not be in power to pursue its plans and, if it is after the next election, we don’t know how keen it will be to stick to them given a further five years to play with. The political desire to put the pain at the start rather than the end of a…

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