Nein bitte!

German Finance Minister Peer Steinbruck (I’m afraid I can’t manage an umlaut) has rather neatly summed up the efficacy of Alistair Darling’s VAT cut.

"Are you really going to buy a DVD player because it now costs £39.10 instead of £39.90? All this will do is raise Britain's debt to a level that will take a generation to work off."


100% correct. The cut is an expensive expedient which will do very little to stimulate spending.

Comments

Aidan said…
Nerdy tip - you don't need umlauts when writing German, you can write ue, ae or oe instead of ü,ä,ö. That's what Germans do too.

Popular posts from this blog

Football fever in Russia

Stormont might not collapse but paramilitaries continue to disfigure Northern Ireland

Walker loada rubbish