Budget 2009 – Quick Reaction
We knew it was going to be bad. We knew there was to be large amounts of borrowing but never did we know that it was to be a suicide essay of epic proportions written by a government who is in the dying days of power.
They expect 3.5% growth in a few years – that is pure fantasy designed to win voters. They are not good at estimating as shown with the increase in borrowing.
They are raising taxes for the highest earners – again another election factor. There can be no other explanation for it as it will not raise much money. It is designed purely to appeal to the left and as such is a complete and utter disgrace.
The Chancellor has all these wonder ideas about the economy in 2011, but as David Cameron said, he has forgotten that there is an election before then!
This was a completely cheap and shameless budget. A budget which could have been (and may well have been ) written by school children. It is a political budget aimed at the Labour Party rather the country. This government is not governing in the national interests, they are governing in their own selfish interests and that is a 100% disgrace.
Borrowing will now be in excess of £175bn this year alone! Remember, last year he estimated borrowing would be £32bn! Not all that good at estimations are they? This is an incredible figure and it puts borrowing at the highest levels since the Second World War. No Chancellor has ever announced such large rises in borrowing ever in the history of democratic governments in this country! This country will be the laughing stock of the world because of the economic incompetence and stupidity of our government over the course of the last decade.
David Cameron was absolutely correct when he said, “Our children are going to be in poverty for decades”. They will never forgive the people who have done this, Britain cannot afford another five years of Labour. Labour have made an “utter mess” of the economy. Any claim they made to economic competence is dead, over, finished.”
There wasn’t anything of substance from Cameron, but that doesn’t matter. At this stage he needed to rip right through the budget. The electorate is angry at this budget and they will be able to connect with Cameron’s anger in the Commons today. A budget response is not about opposition proposals it is about attacking the government where they are wrong and in this instance there was nothing right.
What is clear is that this government has lost the plot. They are now prepared to borrow, borrow and then borrow more in a shameless effort to gain more votes. Well I have news for Brown &co: You are finished and every last ounce of confidence that anyone had in you has now evaporated over the course of the 51 minute Budget statement.
This budget could have been used to take the county’s economy in a new direction, away from spending and borrowing and into a new era of saving. It didn’t and what it actually did was to ensure Labour loose the next election.
UPDATE: I notice on the HM Treasury website that the 2009 budget is entitled “Building Britain’s Future”. That is a falacy and a joke. It must be.
UPDATE: I’ll have further analysis on the budget up tomorrow afternoon. I’m currently sifting through the full document there’s 268 pages to get through!
