Golden Shower

As share prices start to recover this morning, Alistair Darling faces a clear dilemma tomorrow. When he uses the annual Mais lecture to finally piss on Gordon Brown’s Golden Rule, which governs borrowing. The chancellor must prevent the change from further undermining confidence in the UK’s economy.



Darling is expected to set out his rationale for the change, leaving the details of the new borrowing regime for the pre-Budget report. The chancellor will argue that the government needs greater freedom to borrow in the short term to cope with the coming recession.

Now read what Dizzy Thinks