By Steve
Manning, Founder, Manning and Company Independent Financial Advisers
Let’s
face it; George Osborne had very little room for manoeuvre. The country is spending more than it is
earning - no different from most of Europe.
The
Chancellor’s task is a pretty tough one.
He needs to stimulate growth to provide more income for the treasury,
while at the same time reducing spending and limiting government borrowing.
The
political parties largely disagree on how much we should be borrowing to
stimulate the economy. Get it wrong, and
the consequences are not good: bankrupt because of over-borrowing; or bankrupt
because of severe depression.
By
and large, being a ‘neutral’ budget, it was endeavouring to make better use of
the money in the system - effectively robbing Peter to pay Paul.
I
want to focus on just one of these initiatives: stimulating the housing market.