World

Apr 21: 'There was no alternative' - Geoffrey Howe

Former chancellor of the excequer Geoffrey Howe offers words of pre-Budget advice to Alistair Darling on delivering a budget in recession. He discusses with Chris Giles, economics editor, why the 1981 budget was deflationary as the downturn hit hardest and why Darling will leave a spending mess for the next (Conservative) chancellor to clean up.