OOPS, There Goes Another £90 Billion

The Chancellor George Osborne recently revealed a load of financial re-organisations and gave the impression that somehow or other he was in charge of the crisis. 'The Chancellor is expected to draw on figures showing better-than-forecast growth, rapidly falling unemployment and record numbers of start-ups to argue that his economic prescription is working. Weaker-than-expect tax receipts are likely, however to force the chancellor to admit that a deficit he had once promised to clear by the end of parliament will instead be close to £90 billion.' (Times, 3 December) A £90 billion deficit - once again capitalism makes a fool of the politicians. RD