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short-term political maneuver to wrong foot the chancellor, Ed Balls, in the state of the fall is not so smart now

George Osborne is left with egg on his face after the auction of 4G. What appeared to be a heck of a whistle at the time of declaration of the fall is not so smart now that the settlement has gained much less than expected. Something short-term policy designed to wrong foot, Ed Balls, has failed.

This is what happened. In 2000, when the Labour government sold 3G licenses, the Internet bubble was in full swing and the mobile companies assumed that would make a fortune to own a piece of radio. They paid a whopping ? 22.5 billion licenses that Gordon Brown used to repay a portion of the national debt.

there were two major developments since then. The first is that the economic climate has changed. The British economy has stagnated-lining in the past two years and the recovery of greater global economic recession of 2008-09 has been dogged by failure. The second factor is that companies are moving quickly realized they were the real beneficiaries of the expansion of bandwidth: for companies like Google and Apple were the real winners

There is a glimmer of hope in this cloud. The deployment of broadband after the sale of 3G licenses has been slower than it would have been because the mobile phone companies had paid more than necessary and therefore do not have the means to invest. This should not be the case this time: the benefits of expanding the bandwidth should feel much faster, with beneficial effects for the economy

Osborne could still avoid the embarrassment of having to admit that the debt, after all, go this year, but only if the data on Thursday showed that the income deficit in January - normally a extraordinary month because the payment of the income tax self-assessment Treasury - were surprisingly strong. This is the last round of public finance figures before the budget next month, and the state, the Chancellor will use again the smoke and mirrors to pretend things are better than them. It is reduced by this.


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