Before we hear from Stheeman, it should be remembered that, as governor of the Bank of England, Mervyn King set a precedent when he said that Darling's budget before the 2010 election had not gone far enough to bring down Britain's debt. It was the boost George Osborne needed to persuade many waverers that Gordon Brown's government could not be trusted with the nation's finances.
'Many economists at the time said there was a clear case for borrowing at historically low interest rates to invest in Britain's infrastructure and its education, health and welfare systems to raise productivity and national income.
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