Yes, the much awaited non-event was presented last week by Alistair Darling who provided news we all have been prepared for, of a tough time ahead for the British consumer / electorate for the next few years with the UK’s deficit problem. He tinkered with tax and confirmed much of what was in last year’s Pre-Budget Report, but in essence could do nothing to instill confidence for either the private individual or business, despite the emphasis on doing more for the SME sector. Cameron and Clegg of course responded in the usual manner but for all the main parties, electoral politics aside, the problems that the UK faces for the next five years will involve significant cuts in public expenditure and tax rises, (direct, indirect or by stealth).