Web links for 20th June 2010
The Financial Times reported on Saturday that public sector borrowing in May was £2bn less than expected and £1.4bn less than in May 2009. Despite this improvement, the Chancellor is still planning to tax and cut in his budget next week. The Government’s approach is incresaingly aimed at promoting hysteria about the public finances to justify a hugely ideological budget. Instead of “politics being about choices”, they are reverting to “there is no alternative”.
An impressive list of economists wrote to the Guardian to urge the Chancellor not to increase VAT, but instead, to announce an ambitious tax on the finance sector.