You mark my words, whoever wins the next election we will be in for years of tax rises and spending cuts. No one believes the government forecast of 3.5 per cent growth next year; least of all government ministers themselves.
Look too for a sterling crisis and rising interest rates.
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In memory of Clement Freud, I may place a small wager on a grand coalition after the election. Nobody is really going to want to take responsibility for sorting out this bollocks.
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