Better than expected, but pre-Budget forecast will not spare construction’s pain
There was a widespread view, stoked in part by the new incumbent at No 11 Downing Street, suggesting that the first output from the newly established Office for Budget Responsibility would most likely reveal the public sector debt to be far greater than we had been led to believe. Understandably this miffed the ex-Chancellor Alistair Darling who quite rightly was irritated at the suggestion he was a smoke and mirrors merchant. Well, now it would seem that if he had been…