Should the Government publish all budget measures needed to get to a 3% Deficit by 2016?
People need certainty as to what their finances will be over the coming years. With a current borrowing requirement of about 13 billion a 3% deficit would mean reducing borrowing to about 5 billion. Many People will be very reluctant to spend money if they are concerned about their income falling.
People still need to plan budgets over the next five years. It would help greatly if Government published their plans now rather than keeping people in suspense for the next number of years. Giving people the fullest information about future budget requirements would help people to budget and help restore more confidence.
Do the Government have more rabbits to pull out of their hats like the Promissory note deal that will ease borrowing by about 2 billion for each of the next ten years?
What is the expectation for revenue side to increase?
Are there political disadvantages to releasing information now rather than keeping future budgets a surprise?