Finding Neverland

It strikes me that the Pre-Budget Report amounted to nothing.

Largely, we were told that the borrowing will be higher than the Government expected this year - which we expected as they keep getting that wrong. Taxes would rise a little and there were some increases in benefits. A few tinklings here and there and that was it, barring the pathetic headline grabber about taxing bank bonuses.

The Green stuff needs to be applauded - let's hope it translates into real initiatives for people, homes and cars. But that really was it.

The detailed, departmental spending review has been postponed until after the election - VAT was confirmed to rise to the old level and there was an increase in the state pension, all expected.

In the face of the worst financial position since World War II, we seem to be doing nothing. Neither stimulating growth or cutting costs - it's as if it is business as usual and nothing untoward has happened. Am I the only one who things we are in crisis?

I suppose the pattern is set - there will be a few grandstanding taxes on the rich which will raise little tax in the great scheme of things while there will be death by a thousand small incremental tax increases for the rest of us. This follows the pattern of this Government - we already are the most taxed British populations in history, so a few more pennies added here and there will only be mere rabbit punches on an already numb body.

Vince Cable called this a 'Missed opportunity' - that about sums up the last 12 years really. To my mind, it's a lack of decisive action in the face of the biggest financial disaster not caused by a war in the country's modern history.