Bit political I know, but I never agreed with Browns bright idea of borrowing to fund the drop in VAT which doesn’t look like it was such a good idea after all, as people start to pay off debts rather than spending it as he hoped. looks like the government could be saddled with a huge debt and the economy won’t be any better off, wonder who’ll foot that bill?
2 responses to “Oopps”
Do you think it just might be the poor old British Taxpayer? What a stupid idea that was when shops are already discounting by 50% and more.
I do find it ironic that the ‘Iron Chancellor’ who, for so long, has been a staunch advocate of prudent fiscal policy is now resorting to such desperate measures in an attempt to prop up a faltering economy and stimulate economic recovery.
Unfortunatley, the lag between action and effect is too great and in my humble opinion, it’s already too late!
Personally, I don’t think we’ve seen anything yet and 2009 is going to be a lot worse than people think.
I wish I could say that New Zealand will fair better than the UK but unfortunately all the indicators suggest otherwise.