So, how to sum up yesterday’s Budget? If we were to use the plays of William Shakespeare as our guide, the Tories will no doubt hope it will be a case of “All’s Well that Ends Well”. Labour on the other hand would say it was “A Comedy of Errors”. In truth, it was probably a case of “Much Ado about Nothing”.
To be fair to the Chancellor, having decided he was going to stick to his mantra of ‘not borrowing to spend’ (although it could be argued that borrowing has actually increased in real terms), there was very little he could actually do. Without borrowing, the only way to inject ‘new’ money into the economy to try and stimulate growth is by cutting government spend. What he announced therefore was a series of small measures covering a wide a scope of people as possible. The attached summary covers all of these.