‘Coin-toss chancellor’ Osborne’s 50/50 chance of meeting budget target

Microscope: George Osborne searches for signs his claims will come true.

Figures in last month’s autumn statement suggest the chancellor now has a 50/50 chance of getting the budget into surplus as promised by the end of the parliament.

In July, economists at the Office for Budget Responsibility (OBR) put his prospects of making the target at 55% – suggesting they have slipped further in the past few months.

John McDonnell, the shadow chancellor, said: “The chancellor was probably hoping it was an early Christmas present that no one noticed the downgrading of the chance of him meeting his own self-imposed target, but it has been exposed for the gimmick it has always been.

“The truth is that even the OBR aren’t certain George Osborne will reach his surplus target, and have now said it is the equivalent in probability of a coin toss in coming true.”

Source: ‘Coin-toss chancellor’ Osborne’s 50/50 chance of meeting budget target | Business | The Guardian

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3 thoughts on “‘Coin-toss chancellor’ Osborne’s 50/50 chance of meeting budget target

  1. Mr.Angry

    What can we expect from an idiot who gained a degree in modern history after Daddy made a huge contribution to his scholars. The man is a total disaster and he is in charge of our economy. Can’t the rest of society see he is like a football being kicked around by the Tory donate’rs. Kick my butt the man is a total idiot and the rest of the population has to suffer as a result. Cameron’s appearance in the flood areas today with his designer wellies was a total insult to humanity. Why can’t the people see what they actually represent, and clearly it’s not Joe public. Pork face will be back in the capital today overseeing the multi million renovation of his private jet.

    I will leave you all with those thoughts my tea is ready and having seen the PR man up north today made me feel physically sick. My heart goes out to those who are suffering up north. But at least DC got his face in the press( the one he controls) words fail me.

  2. Terry Davies

    Osborne will have 2 excuses. ie bombing Syria and floods plus referendum costs.
    payments to EU etc will all be put forward as reasons economic growth has not progressed to the extent he anticipated.

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