THE GAIN AND THE PAIN

摘要

A listair Darling's Budgetrnmay have been delivered on the lower slopes of a £1.2 trillion mountain of public debt, but his approach to public spending for the next two years was, on the face of it, clear: "You can grow your way out of recession," the chancellor said, "you cannot cut your way out." Well, that may be true, but the signs are that, with borrowing set to soar to £175bn this year, the government is going to have to rein in costs sooner rather than later - and it looks like construction spending is one of the first targets in its sights.