Darling hints at a taxing future 

Nothing too surprising in Alistair Darling’s interview with the Independent this morning.  There’s chat about how the Government’s spend ‘n’ borrow reponse to the downturn is the “responsible” thing to do; how the country will “get though it” all, perhaps by 2010; and how we shouldn’t expect £15 billion worth of tax cuts in the Pre-Budget Report.  Halfway through the article, though, there are two quotes which add up to a something of an admission:

“There are two sides to it. It is also important that, like anybody else, you live within your means. You have to demonstrate in the medium term how you propose to do that.”

And,

“Keynes is best remembered for what he said about making sure you help the economy in difficult times. But he also was very sound on making sure you live within your means. He did believe that at some stage you have to pay for it.”