Budget Divides

Budget time!

Predictions for the UK economy were slammed by opposition parties – no surprises there – but Mr Darling’s startling forecast of growth, by 3.5% by 2011, did seem a tad optimistic. He insisted however that this was “within outside forecasts”..

Borrowing is also set to increase yet further, to a record £175bn, and many are concerned about the wealth and confidence of the country in the time to come. Did the speech have a negative effect on the British pound? Of course it did, though it was unlikely to be the only factor affecting the currency market – but it did trade at 89.62p to the euro afterwards.

So a mixed bag to choose from when it comes to making our minds up in our feelings about the future of the UK’s economy. Take your pick – all sunshine and positive growth, or maybe doom and gloom is more your stance.

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