Redwood on the Budget: Every little helps

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The Budget cut a little from public spending to allow some overall cuts in income tax.

The forecast borrowing totals for the period up to 2014-2015 came down a little from the large figures that were published in the Autumn Statement last year. In other words, the overall impact of the Budget was small, shifting a few billions in a £1.5trn economy. The intention of the Budget is to rally business behind the government’s growth strategy. The aim is to shift resources from public sector to private, and to build up industrial sectors to complement the strength of the economy in financial services. The chosen methods are to expand credit, to cut taxes, and to drive through a...

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