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We expect GDP growth of 1.1% in 2011, well below official forecasts, which implies a high probability of the government missing its deficit-reduction target".
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"We think that the government missed the boat," he said.
The government missed a trick in ditching levels.
And how did the government miss the red flags?
A What I was suggesting was that the government missed a tremendous opportunity.
Second, the government missed an opportunity to tighten policy even further while growth was strong.
Another major cost is related to payments to contractors and other service providers that the government missed.
But what if Citigroup's shares continue to rise, and the government misses out on an even bigger gain?
Last year, official statistics showed that the government missed its recruitment target for the third year in a row.
Many of the provisions affect relatively small amounts of money, so that the total amount of revenue on which the government misses out has increased relatively little.
Britain's government missed the opportunity to rectify this through the operating and financial-review regulation, due to come into force some time next year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com