Just a very quick post to say, that I do want the pace of spending reductions to be slower, but more important is a growth strategy, and not just by making the labour market more flexible (traditional response).
As for the GDP figures released last week, I’ve seen many figures in industry and government stats, change very quickly. I don’t think we should panic, but we should be prepared to change path (obviously politically the Chancellor will never say that as it gives the opposition a field day).
As I mentioned in a recent job interview with an economist – there’s always choice, it’s how you’ve decided to set the parameters that define your choice. He agreed, not sure whether I’ll get the job though!