It has been two-and-a-half years since the public finances began to plunge into the red; one-and-a-half years since it became clear that the government had lost fiscal control; and one year since the spectre of national bankruptcy emerged as a real threat.
With last Wednesday’s budget, the government has finally adopted a proportionate and credible response to the fiscal disaster into which it has got itself and the country.
The overall budget package...
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