Thursday, 11 December 2008

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.

1 comment:

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.