Pre-Budget report points to more money for construction … but a much bigger fall

Few would argue against the view that this set of Pre-Budget Report announcements has more to do with pre-electioneering that pre-budgeting.

That’s fair enough. The Labour party may not be in power to pursue its plans and, if it is after the next election, we don’t know how keen it will be to stick to them given a further five years to play with.

The political desire to put the pain at the start rather than the end of a term in office is great. So my guess is that whoever wins the next general election we can assume that this is a vision of the future that is about as good as it gets.

Read more at the Brickonomics blog.