Leaders of opposition parties have labelled Alistair Darlings predictions on the Economic growth of the British Economy as a ’fantasy’ In his Budget announcement Darling predicts that the economy will return to growth by as early as the end of 2009. Expanding by 1.25% next year and 3.5% by 2011.
The forecast however has been met with cynicism and doubt with opposition politicians claiming Alistair Darlings words are ‘preposterous’ and ‘ludicrously optimistic’. The Chancellor will have a tough time convincing people his word is right having been way off the mark with the level of borrowing Britain is taking on, having yesterday admitted that the debt of the country has soared to a post World War 2 high of £175bn.
The chancellor however remains defiant in the face of this criticism and seems fully aware that it was to come, in a statement he said ’Today doesn’t look good in terms of headlines and I’ve been resigned to that for some time, But I believe we have reason for confidence and we should not get ourselves into a reason for believing otherwise.’
Other items that will take the notice of the general public is a 1p raise in Alcohol, a 7p increase on Cigarettes and yet another raise on Fuel which is going up by 2p a litre from September and a further 1p above inflation each April for the next four years.
