
Government spending cuts may be widely accepted as essential, but where can budgets be slashed?
I’m just about old enough to remember the days when the Bank of England – the Old Lady of Threadneedle Street – had but to raise an eyebrow and deliver a withering look and recalcitrant bankers would quickly fall into line.
UK credit availability will have to be rebuilt to stimulate spending – and that means restoring banks' credibility.
Few would argue that off-balance sheet finance needs fresh oversight. Perhaps the banks' views are out of kilter.
Auditor independence is back on the agenda – as is the question of the Big Four as an auditing oligopoly.
To be honest, I came at this with a sense of diminished expectations. When politicians start looking at business issues, you have to be ready for some cringeworthy comments.
The Budget did not deliver many answers – but couldn’t hide the fact that Labour’s fiscal rules have been binned
With real economic activity sinking relentlessly and the mood of despair deepening, misguided hopes that April’s G20 summit in London will be the turning point can only serve to worsen despondency
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