George Osborne was buoyed along by reprising the reheated rhetoric of 2010 calling for further cuts in spending and no new taxes. Apart from one gimmick, the speech was light and lean, reflected the paucity of ideas at the heart of this administration. By invoking the prospect of further benefits cuts (their only popular policy?), Osborne flew into Liberal Democrat flak: the one political party that eschews popular coalition policies for their own idea of what people want (think Left!). Clegg was quick to chew his fat: cuts for taxes, rich for poor, mansion tax for reducing welfare.
However, in happier news, the OECD leading indicators appeared to show Britain decoupling from Europe and enjoying economic growth whilst the Eurozone plunged....