The UK downgrade will come as little surprise to many. It does not appear to be occurring because the UK is cutting its deficit too far and too fast.
John RedwoodThe Irish move to a very low corporation tax has generated very significant revenue growth, considerably in excess of Britain's, where a slower economy has been combined with a number of stealth taxes.
John RedwoodWhat the study I chaired actually said was we needed tougher regulation of cash and capital in banks, as credit was too easy. Events proved that right.
John Redwood