Who’s winning the expectations game?
Did the opposition over-egg the imminence of the cuts? Now that this week’s spending review has been and gone, some people might be surprised to find that not only does the world continues to turn but pretty much everything else carries on as before, for now. Certainly, there will be restrictions on spending and some functions of government will find their budgets under a lot of strain – but not yet. Likewise, there are tax rises in the pipeline (literally…