The Budget

Well, in less than 2 days' time we will know the shape of the UK government's Budgets for the next 4 to 5 years. Speculation is rife, of course - some of it doubtless due to planted rumors by various interested parties. For what it's worth, some comments in advance on what I'd hope it will be:

It should be bold. This is a unique period in British political history: one opposition party is tied into the Coalition government, the other is leaderless for some months to come and thus powerless to an extent it won't be again in this Parliament. So this is THE opportunity to take the difficult, unpleasant measures in both taxes and spending that might really make things better when the next election rolls around in 2015.

In that context, it must start the long, hard slog toward public service reform (ie. less being done by central government done by fewer state employees with more realistic salaries, perqs, and pensions); and welfare reform (ie. fewer people receiving state money for fewer categories of things).

If the difficult things are done now, then maybe in the last Budget before the election tax cuts can be made and popular spending plans can be announced. The less that is done now, the less credit for the eventually improved economic situation will go to the Coalition government.

Mr Chancellor: Be honest, be principled, be bold.