autumn forecast: fair outlook with storms from the west later
George Osborne’s first Autumn Statement as Chancellor marks a shift away from the political theatre which we have become accustomed to at this time of year. While business and the media needed to prepare for Pre-Budget Reports with the same dedication as for the spring Budget, today’s statement was a much slim¬mer affair. Gone are the numerous policy reviews, tax changes and general politicking that became the norm under Chancellors Brown and Darling, replaced with a reaction to the Office of Budget Responsibility’s (OBRs) economic forecasts and a handful of policy initiatives. The Chancellor’s message was that Britain is back “on track” and that an economic strategy based on anything other than decisive action to tackle the deficit will lead to the UK joining economic basket cases Ireland and Greece. / Read more