We love a sporting analogy and Summer 2015 has given us the “Lionesses” raising the spectre of a successful English world beating football squad, the usual nail-biting Wimbledon fortnight, and then there is the cricket leaving an air of expectation of good things to come. Initial reactions to George Osborne’s Summer Budget were positive, with the opposition parties struggling to respond. 

As we have now had a few days to reflect on the measures, the extent of spending cuts and the tax rises are becoming more obvious as the economic reality of the Budget Deficit and the Chancellor&rsq...