Lessons from the IFS  

The Institute for Fiscal Studies - are they the experts who saw the credit crunch coming all along? Were they the ones issuing those clear, concise monthly warnings about where Gordon Brown's fiscal recklessness was taking us? Or did I just imagine it? They were certainly once wheeled into the Commons, when we were in Opposition, to explain why Tories couldn't possibly advocate serious tax cuts. Very effectively they did their job, too.Somehow I don't reckon we'll be inviting them in to give us fiscal lectures again soon. Which is progress, in a way....