“Out of the red and into the black, Britain paying its way in the world again!” boasted George Osborne, pounding the despatch box with satisfaction as he finished delivering the coalition government’s final, 2015 Budget.
This was wishful thinking at best. But by any reasonable measure it constitutes wilful deceit.
From the BBC’s summary of Budget Day 2015:
Setting out his plans in the Commons, Mr Osborne said: “We took difficult decisions in the teeth of opposition and it worked. Britain is walking tall again.
“Five years ago, our economy had suffered a collapse greater than almost any country.
“Today, I can confirm: in the last year we have grown faster than any other major advanced economy in the world.”
He said he would use a boost in the public finances caused by lower inflation and welfare payments to pay off some of the national debt and end the squeeze on public spending a year earlier than planned.
In 2019/20 spending will grow in line with the growth of the economy – bringing state spending as a share of national income to the same level as in 2000, the chancellor told MPs.
The BBC’s Robert Peston said this was a move aimed at neutralising Labour’s claim that the Conservatives would cut spending to 1930s levels.
But nothing did as much to condemn the Conservative Party’s half-hearted attempt to restore fiscal discipline to Britain over the past five years as Telegraph columnist Dan Hodges’ verdict on Budget 2015, the budget that “killed Labour”:





