Keith B - unless they made a lot more cuts almost instantly more borrowing was unavoidable such as the terrible situation we are in. The spending on the national credit card was being reduced until Labour accelerated it in 2000 at a time when they should have balanced spending leaving us right 'up the creek' when the downturn started in 2007.
Nobody seriously would suggest the UK credit rating should be improved but imagine how much worse it would be if the cuts, inadequate as they are, were not made or done at an even slower rate. It would be a true disaster.
Philip - there is a lot on this we can agree on but I am saying we need to rethink airports. To carry on expanding Heathrow is just not viable. A rebalancing of with a Eastern airport hub at Manston would involve some changes but would at least spread the load.
Mark: Just seen this from City AM - it reinforces what the IMF have said and what I have said recently.