Britain is awash with debt, while government policy encourages inflation. But theoretical inflation sorts a lot of stuff out, while actual inflation will hurt.
The Chancellor's claim that "the pace of fiscal consolidation has not changed" is not supported by any of the available data.
Including, this is still the slowest recovery for 100 years, the economy is 2.9% smaller and most people are still getting poorer.
The Chancellor boasts in his Times piece that disposable incomes have risen but in the first quarter of this year they fell at the fastest rate since 1987.
Including, this is still the slowest recovery for 100 years, the economy is 3.3% smaller and unemployment hasn't fallen for six months.
Despite no shortage of austerity, borrowing in June 2013 was £0.5bn higher than in the same month last year.
The newly ennobled Mervyn King blames “a collective lack of imagination” for the financial crisis. We, all of us, failed to see the iceberg. The only problem is that most of us were in the engine room shovelling coal.
British households have become more, not less, concerned over the last five years.
By promoting balanced growth and increasing employment, small businesses exemplify the investment economy Labour wishes to build.