Budget Analysis Underway

The 2015 Budget reaction has been much more mixed this morning. The so called 'Living Wage' is really just an enhanced National Minimum Wage. George Osborne is a very smart politician, and he has set out to counter some of the advantage the oppositions policies offered.

Ian Duncan Smith’s gloating and undignified behaviour in parliament yesterday, has cost him a few more of the few friends he has.

The Living Wage distracts from the fact that welfare is being cut, not as severely as people had  expressed concern about two weeks ago, but families in work and out of work are going to suffer.

A clever budget by Osbourne, but not one that will bring much cheer to those relying on state funding to survive. The budget distracts momentarily from the issue of Greece and the effect their default and leaving the Eurozone could have on the financiers who invest in public debt.  

Nigel Farage has been in full swing in the European parliament, this time getting a few more cheers of support than he usually does. Things could change very quickly, and make this budget seem a minor issue in comparison to what could happen on the international stage.

The newspapers saw the budget in a generally positive light. The real number crunching has yet to start.  The Institute For Fiscal Studies - IFS has been voted 'Think Tank of the Year 2015' and we eagerly await their analysis.