The Emergency Budget - Threat or Opportunity for Market Authorities?
On 22nd June Chancellor George Osborne presented his emergency budget and staked his career on slashing the bloated public sector and incentivising private business to grow the economy out of the largest fiscal deficit in the EU. His confident delivery was a remarkable achievement for a Chancellor in office for less than 7 weeks and the inheritor of the “worst economic crisis for 60 years” according to his predecessor. Hopefully, the not-so-funny note left by Liam Byrne, outgoing Chief Secretary to the Treasury, which sniggered: “I’m afraid to tell you there’s no money left” – will come back to haunt him.
