Borrowing more today can mean borrowing less tomorrow by getting the economy growing again

During the budget debate in the House of Commons Peter Hain said,

“The Chancellor delivered last year’s budget in the week that the clocks changed.  We had hoped to hear that the economy was about to spring forward.  This budget confirms instead that it has fallen back – yet again.  For the third time in a row he has stood up on Budget day to announce that things have got even worse than he forecast the year before.  The Prime Minister says his economic policies are beginning to work, but where he sees signs of success the country can’t even see a brighter shade of fail.

All we got in this budget is more of the same from a Chancellor who looks increasingly like a loser, a spent force who talks aspiration but delivers stagnation.”

To read the whole speech click here