Borrowed Time

& , : {}

Is there a complaint with decimal points in this country? Last month, the Conservatives got their sums wrong on teenage pregnancy, by celebration of the mass the underwhelming figure of 5.4 per cent as 54 per cent, a figure that would have been indeed alarming. Yesterday, the Office for National Statistics revised the open borrowing total for Jan down from a hulk 4.3 billion to a small 43 million. This was not a typo, notwithstanding seeking suspiciously similar to one. Nevertheless, the Government contingency take caring not to provide it as well literally.

The better-than-expected borrowing total for both Jan and Feb will have it sorely tantalizing for Alistair Darling to pacify the tablet for electorate with a couple of pre-election giveaways, when he presents his third Budget subsequent week.

But the total are flattered partly by a one-off enlarge in taxation receipts. And they have small stroke on the outrageous hole in the open finances. The mercantile hurdles confronting the subsequent government, yes or no celebration forms it, have not altered with dual months data.

Britain entered the retrogression with a far-reaching constructional bill deficit. A constructional necessity is not automatically prepared when an economy earnings to growth. It needs to be addressed by elemental cuts in supervision spending. If monetary markets are not assured that this will happen, they will direct higher seductiveness payments on supervision debt.

Related LinksAlistair Darling since 13bn Budget progress

Next week, Mr Darling will face a preference in between an eager accepting from his celebration and the certain visualisation of posterity. For his consequence and ours, he would be correct to select the latter. He contingency concentration on the big numbers, and not be dreaming by the (odd) decimal point.

hair wig