CBI: budget won't restore public finances
"The key question for this Budget was whether it set out a credible and rigorous path for restoring the public finances to health. The CBI's preliminary judgement must be that it does not", says the CBI
Reacting to the Chancellor's Budget speech, Richard Lambert, CBI Director-General, said: "The Chancellor's economic forecasts, with a rapid end to the recession and well above trend growth from 2011-2014, look optimistic.
"Even so, the horizon for balancing the books has been extended to 2018, two years later than previously targeted.
"With annual government bond issue expected to exceed £200bn in the coming years and debt doubling by 2013, the Government is running too much of a risk with the willingness of investors to finance UK debt."
