Now, Every Day is A Budget Day
affirm, amplify and consolidate a series of major decisions leading up to the Budget.
In many ways, this can be seen as a plus as it removes all the attention from one occasion and gives the government flexibility on taking economic decisions at a time of its own choosing. The volatility that has come to be associated with Budgets over the years is also reduced. In fact, consistency may yield better response in an uncertain environment.
Politically, however, it underlines a crucial power shift in the system of economic decision-making. The Budget is at the end of the day a parliamentary exercise, which is put to debate, and has to pass through all relevant scrutiny mechanisms. This can slow down