It's bloody awful

The key message from today's Pre-Budget report. The amount of borrowing is truly astronomical leading to a total of £1 trillion debt.

Ok, so the answer to my previous question was that the Government doesn't care about strict rules on keeping budget details under wraps. The only major figure not leaked was the 0.5% increase in National Insurance Contributions. A tax paid by employees and employers just as they will (hopefully) be leading the country out of recession.

I'm highly sceptical that the VAT reduction will work and I also think the economy will go down before it rises again - so the timing may be all wrong for a stimulus.

Just like the last three budgets (including PBR's), I think this budget will quickly unravel. The NIC and 45% tax is a timebomb waiting to go off as the Government heads to the left.

I think this may be a game changer, but probably not in the Governments direction.

Squiffy.