Andrew Rawnsley says in his comment in the Observer this morning:
Both [the Tories and Labour] will fight the coming election by promising an extravaganza of spending. Neither is being at all clear about who will pay for their pledges. I very much doubt that the Queen’s speech is going to leave us any the wiser about that.
What can I say? That how is that a man can have written for so long on politics and know nothing of Keynesian thought, fiscal policy, the multiplier, the virtues of borrowing when the economy is at less than full employment and rates are low, and that there is a magic money tree, after all?
That is what I can say.
That, and the fact that ignorance of such issues blights our political debate.