[QUOTE]Chancellor George Osborne has abandoned his target to restore government finances to a surplus by 2020.
In a speech he said, given the effects of the referendum vote, the government had to be "realistic about achieving a surplus by the end of the decade".
The target had been the chancellor's most prized goal and had been driving austerity measures in previous budgets.
But he said the economy is showing "clear signs" of shock following the vote to leave the European Union.
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[URL="http://www.bbc.co.uk/news/business-36684452"]Source[/URL]
nice one leave for giving the Tories an excuse to blame their failure on.
Top marks.
Brexit is just the excuse, George Osborne has been such an economically incompetent chancellor that he can't do in 10 years what he promised to do in 5.
Ken Clarke managed to halve the deficit in 3 years from 1993-6, George Osborne hasn't managed to do that in double the time from 2010 to 2016.
[QUOTE=mdeceiver79;50629012]nice one leave for giving the Tories an excuse to blame their failure on.
Top marks.[/QUOTE]
This surplus was never achievable anyway.
[QUOTE=The mouse;50629013]Brexit is just the excuse, George Osborne has been such an economically incompetent chancellor that he can't do in 10 years what he promised to do in 5.
Ken Clarke managed to halve the deficit in 3 years from 1993-6, George Osborne hasn't managed to do that in double the time from 2010 to 2016.[/QUOTE]
I'm not one to support Osborne, but he inherited 3x the budget deficit of Clark.
Osbourne will be gone with the next leader anyway. The Tories need someone actually willing to stand up to pensioners who are the biggest impediment to reducing the deficit instead of a political opportunist.
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