Keynesianism Triumphant in the UK
“Much of what Keynes wrote still make sense,” Mr Darling told The Sunday Telegraph. “You will see us switching our spending priorities to areas that make a difference – housing and energy are classic cases where people are feeling squeezed.”
Mr Darling said it would be “wrong” to start taking money out of the economy by cutting spending or raising taxes… The stimulus package will give departments immediate access to future years’ budgets. This is to be funded in the short term by borrowing.