Sir Alan Budd has now pronounced on economic growth and the likely government deficit in the first report of his Office for Budget Responsibility. Economics editor Larry Elliott tells presenter Aditya Chakrabortty that it shows the situation is not as bad as the Conservatives claim, but that the chancellor will still use it to bring in an austerity budget next week.
Blogger and former civil servant Will Straw describes the process whereby the OBR used the same figures as the Treasury, but came up with different forecasts. He warns against the danger of restricting economic growth with too many early cuts and tax rises.
Lindsay Mackie of the New Economics Foundation argues that the government should not forget banking reform, in the interests of making real growth possible and to avoid another crisis. Economics correspondent Phillip Inman decries the greedy corporate shareholders calling for the sacking of Prudential's CEO. Professor David Sims of the Cass Business School describes the lonely life of the chief excecutive, such as BP's Tony Hayward.
