But Osborne and co continue regardless - apparently because their real objective is to use the current financial crisis as an excuse to dismantle the welfare state - a point made very forcibly in Polly Toynbee in today's Guardian ("Do people get Osborne and co yet? Even Thatcher wouldn't have gone this far").
However, there was one good bit of news on Wednesday. Osborne used his budget to announce the publication of a 62 page "Review of the monetary policy framework" by the HM Treasury. As Ben Dyson from Positive Money noted, the document indicates that some parts of the government may be slowly moving in the right direction. Specifically, the document seems to raise the possibility of money creation by the state as part of a series of "unconventional monetary instruments".
Indeed, when I read through the document, I really did get the impression that there may be a chink of light at the end of the tunnel.