Badly-prepared Britain

Dull, dull, hopelessly dull.  This is a Chancellor who dithered over Northern Rock, dithered over capital gains tax, and now can't even decide whether the plastic bags levy should be voluntary or compulsory.   Drinkers, motorists, small businesses will all pay more tax because Labour has failed to control spending and borrowing in the good years.  Now they admit that the budget will remain in deficit until 2011, five years later than planned.   Britain is badly prepared for the coming slow-down.

Michael Fallon is MP for Sevenoaks and the senior Conservative on the Treasury Select Committee