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A hollow budget

This budget has no strategy or philosophy

By Philip Booth  

Today’s budget is the budget of a chancellor struggling to understand his own economic philosophy and political strategy. Of course, the circumstances are not easy. His inheritance was very tricky and the eurozone crisis has made things worse. Furthermore, David Cameron’s decision to box the government in with a series of ring-fenced spending commitments means that radical reform in many areas is out of the question.

We still await, with baited breath, a reduction…

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