Thursday, 25 March 2010

Budget 2010: City's verdict was swift and damning

"No sooner had Alistair Darling sat down shortly after lunchtime than the gilt market suddenly crumpled. Investors around the world started selling British government bonds, pulling their money out of the country as fast as possible. As markets closed last night, the stampede was continuing. ....Yesterday was a seminal point: the moment at which investors signalled that they had lost faith in Labour. That even an unusually honest, slightly more sensible Budget was simply not good enough. The rest of Britain will have to wait a couple of months before going to the polls, but investors have already cast their vote."

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