Beware the first budget of a new parliament. Especially this one
by William Keegan from on (#A3SW)
Fresh from victory, a new government makes big fiscal changes as early as it can. What that means for Britain this time has already been spelled out all too clearly
The first budget of a new parliament tends to be the most dramatic and influence the agenda for years ahead - even decades, in the case of Anthony Barber (chancellor 1970-74), Sir Geoffrey Howe (1979-83) and Nigel Lawson (1983-89). The impending July budget of the new chancellor - sorry, folks, but not really so new - will almost certainly fit the traditional pattern.
On this occasion, however, it will be a true blue Conservative budget, not watered down by a coalition partner. And how those Liberals who deserted their own party in the recent election are going to regret it!
It will be shameful if, as expected and indeed promised, he goes ahead with his attack on welfare and public services
Continue reading...