Budget 2010: Did Darling deliver?

Posted by Richard Murphy in Strategy & Planning on Wed, 24/03/2010 - 17:25
  • The Chancellor had a choice with his last Budget: people or bankers? He seems to have put people first, argues Richard Murphy.
The UK needed three things from the last budget before next month's general election.  The first was a policy for growth. The second was commitment to only a limited range of cuts until growth is restored and unemployment is falling fast. The third was a commitment to increased taxes on banks, bankers and the well off to ensure that those who have benefitted most from the government bail out of banks, savings and all matters related to the financial sector pay most for the recovery process now needed to cure its excesses, which is now under way.

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What are your top business challenges today?

2009-08-12 14:53 - 8364 reads
Getting through to 2H 2010
7% (5 votes)
Planning strategies for growth after the recession
14% (10 votes)
Keeping down costs
31% (22 votes)
Raising capital and credit
6% (4 votes)
Maintaining a healthy cashflow
42% (30 votes)
Total votes: 71

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The Bottom Line:If Mr Cable has his way...

"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more

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