The BBC is locked to the reading of the economy that is run out of Ed Miliband and Ed Balls' office. They think if only you spend and borrow more money you can create growth everywhere. ↗
Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly. ↗
Moderation of oil prices would be very, very welcome. But overall I think we are in a position of stable growth, sustainable growth, and basically with inflation in check. ↗
Domestic discretionary spending on education and health care and the environment has been growing at 2 to 3 percent a year. He says we have to rein it in, but he ignores the spending category that is the big spike in the budget. ↗