"With fresh figures showing a return to economic growth over last year, George Osborne has a spring in his step. Growth is back, jobs are being created; his plan is vindicated in time for today's budget. There’s work still to do, but he’s building a 'resilient economy' he believes.
Budget measures announced by UK chancellor of the exchequer George Osborne include a cap on the overall amount spent on a range of social security measures. People who become severely ill or injured, or face other unexpected needs, may find their already low standard of living forced down, regardless of how much they have contributed to society.
The contested details of the latest proposals from the UK Chancellor are only partly illustrative of the momentous economic challenge that lies behind and beyond the Budget, says Simon Barrow. Right now the entire system based at Westminster is failing adequately to comprehend and address, let alone tackle, the really big issues in which economics is a major factor.