Like the anorak I am, I've downloaded the full budget and may spend "some time" reading it. He had a deficit of GBP37.2Bn and expects this to increase "slightly" over the next 3 years or so.
Next thing I'll do is download the LRC version and compare and contrast and then attempt to come up with our strong arguments about its feasibility. The fact that Brown has a growing deficit makes things difficult as we have less room to manoevre - but it also means that the argument about a left deficit is lost! All comments/thoughts welcome!
GOVERNMENT SPENDING AND REVENUE
Chart 1.1 presents public spending by main function. Total managed expenditure (TME) is expected to be around £587 billion in 2007-08. TME is divided into Departmental Expenditure Limits (DEL), shown in Table C13 of the FSBR, and Annually Managed Expenditure (AME), shown in Table C11 of the FSBR.
Chart 1.2 shows the different sources of government revenue. Public sector current receipts are expected to be around £553 billion in 2007-08. Table C8 of the FSBR provides a more detailed breakdown of receipts consistent with this chart.