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Like it or not, an age of austerity beckons

The Independent, 28 April 2010
Publié le : 28 avril 2010
 Hamish McRae 

"Let's assume, just for a moment, that the election is over. We have some sort of new government in place and economics have now replaced politics as the burning issue. We are in the short window between the transfer of power and the unveiling of economic policies and, in particular, the disclosure of what the new government will do about the deficit. What now?

"There will, after the election, be a period in which the government is allowed to settle. Up to now the world's financial markets have taken the view that as soon as the election is over the next government will come forward with credible plans. Global investors are pretty sophisticated and have been well aware that it simply is not possible for a government in the final months of office to outline such plans and, in any case, not much could have been done until growth was re-established. But now the clock is ticking."

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Mise à jour le 28 avril 2010
Créé le 28 avril 2010
ISSN 2107-7029
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