Wednesday 24 March 2010

Budget a non-event?

Will today's budget have much influence on the electorates' voting intentions? Unlikely. What will strike home though are the tax increases from last year's budget which take affect from April onwards. That might spark a negative reaction.

The key will be the reaction of the financial markets. The immediate effect has been marginal, but as the consequences sink in the pound could come under pressure and interest rates might have to rise to attract lenders prepared to service the massive government debt.

Overall, grim times for us for years in to the future.

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