Editor's blog: Sooner or later, the spending must cease

We can't afford to keep spending money on recovery. Also, the Government is a useless banker/ VC.

Last Updated: 31 Aug 2010

Poor old Alastair Darling (ahem). He knows better than anyone that the one thing UK plc really needs to get to grips with, now that the worst of the recession is over, is public spending. But he’s a politician and there’s an election on the way. He can’t afford to be seen as the axeman, at least not until after May 6th, and Gordon wouldn’t let him if he tried. So here’s the line he has tried to walk instead. Yes, we need cuts, but not yet. It’s too soon, the recovery isn’t safe. We need to keep spending, but on recovery rather than rescue. Big government saved you in the dark days of 2008/2009, and it can do the same again this year – just keep the faith. Don’t trust Dave and the posh boys, they’ll turn the taps off straight away and the cure will be worse than the disease... [CONTINUED]

In today's bulletin:

Budget 2010: Government tries to woo small business vote
Editor's blog: Sooner or later, the spending must cease
Carolyn McCall swaps GMG frying pan for easyJet fire
No panic for Sainsbury's despite sales slowdown
MT Special: David MacLeod on employee engagement

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