Pre-Budget Report 2008 LIVE (part four)

Laying the battleground now with the contrast between doing nothing and helping people through ‘difficult times’. Yes, some of us do remember how the Tories left millions to fend for themselves in the 80’a and 90’s.

So we know the economy isn’t going to grow much for 2 years.

Tax revenue dropping but a need to inject money into the economy for fiscal stimulus through presumably tax cutting.

Ooh, public finances:

Borrowing at 8% of GDP. Tories don’t seem to think investing in public services a good idea, no change there then.

National debt to rise to 57% in 2013-14. Oh well, still not as bad as Belgium.

Underlying the investment in schools and health. Important not to put services at risk, certainly don’t want them as bad as they were 15 years ago.

Tied up with savings through efficiency and capital sales. I wonder if the Tories realise that people in the public sector buy stuff too? A steady and stable public sector is vital to propping up the private sector in these times.