Heath analiza el presupuesto de emergencia

Allister Heath, mi analista londinense favorito, disecciona el presupuesto de emergencia británico en City A.M.: Great progress on the deficit – but far too many unnecessary tax hikes. Empieza así:

We were told to expect a tough Budget, with lots of pain, and that was exactly what we got. Many of the policies announced were necessary; others, however, are clearly misguided. On balance, however, this Budget will leave Britain in a stronger position – not something that could usually be said of the previous government’s efforts.

George Osborne’s courage in reducing spending is to be applauded. It is great news that public spending (on the government’s measure) is set to be cut from 47.3 per cent of GDP this year to 39.8 per cent by 2015-16. Receipts will grow from 37.2 per cent to 38.7 per cent; I would have preferred tax to remain constant and spending to fall even faster but at least we will not be enduring a crippling hike in tax as a share of national income. The national debt will peak in 2013-14 at 70 per cent and then start to drop.

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