Board ROOM - Inside business

It’s either St Augustine or shock and awe

9th October, 2010

There are two approaches being recommended to correct the big hole which has appeared in our public finances. One, the Saint Augustine strategy, could be described as: ‘‘Make me fiscally righteous, but not yet.”

It is that the economy is too weak to accept major cuts or tax hikes, and that we should plan to introduce these not now but in future years.

The other one – let’s call it the Shock...

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