Alex Massie Alex Massie

Osborne’s Finest Hour?

Like many people, I’ve rarely been wholly convinced by George Osborne. So let it be said that this budget was perhaps his finest hour. Happily, there is something for everyone to complain about. It would be wrong if this were not the case. I suppose Osborne could have avoided putting up VAT (to 20%) had he not exempted the National Health Service from the consequences of his axe-wielding. Politically, however, one can see why this was a gamble too far.

Nevertheless, this was, on the face of it, a good budget. Four out of every five pounds in savings come from spending restraint, not tax rises and this seems to strike the right balance. “We have had to pay the bills of past irresponsibility” said the Chancellor as he opened and closed his speech with a reminder that it’s the record of the last government that makes this extra budget necessary in the frist place.

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