Budget 2011 – The Headlines After

Posted on: 24 March 2011 by 50connect editorial

The press asks what the Budget means for our economy

Money! Money! Money! Kinda funny! In a rich man's world...After the Budget, the fallout. So, we're feeling £200 richer, 1p less poor every time we fill up our cars (yes, I know - dazzling), and our council tax isn't going up. (Shame they had to close all the libraries.) What else?

Well, the media's not particularly impressed by George Osborne's grand scheme for the economy, or at least, they're all pointing out the downsides as well as the upsides.

Starting with The Telegraph, the good news is that advertising firm WPP is going to move back to London from Dublin. The bad news is that we're so desperate for blue chip companies to bless us with their presence that we have to let them pay low taxes.

Hamish McRae at The Independent argues that the main factor on Osborne's side is good fortune - which is to say, he's rather hoping it doesn't run out.

The Daily Mail is on predictable form, with a particular focus on what will cause its Middle England readers the most pain, viz-a-viz inflation and having to work longer to get a pension.

The BBC has a predictably in-depth analysis by economics soothsayer Robert Peston - who points out that the extra taxes Osborne slapped onto the oil companies may cause higher fuel costs and even more bad blood down the line.

No discussion on how the Budget is going down is complete without The Economist, which rather tartly points out that all the big economic decisions were already made long before yesterday. In essence, the announcements Osborne made were pretty 'nickels and dimes' in tone.

Finally, The Guardian assembles a panel of economists to give their verdict on Osborne's budget. None of them are particularly flattering, with charges ranging from it being 'bad for growth' to 'a tacit admission of failure'. Still, 1p off petrol, yeah?

Alexander Hay writes for our sister site OlderIsWiser.com. For more current affairs, arts and insight, why not visit? You're able to log on to leave comments if you're already a registered 50Connect.com user.

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