Budget Statement

Well its all smoke and mirrors, there was no call to take the culprits and find a convienient wall to stand them against. It seems the decision is made to pump some money into the economy in the hope we will go out and spend it.

Seems a bit strange, the Banks want to rebuild their balance sheets (again Remember Argentina), Hopefully this time the Bank of England will give the FSA back its teeth and allow them to get on with the job. Perhaps someone will remember IOS and the Real Estate Fund of America, also cases where the lesson learnt would make it the last time.

It will never be the last time but with the financial markets in turmoil the last thing we need is another fund forcing the state to play in the casino.