Financial Times "Fortune has showered her bounty upon Gordon Brown," declares the Financial Times's leader column.
"Yesterday he took credit for achieving a far bigger than expected Budget surplus and he used it to move effortlessly into a pre-election mode as a true Labour chancellor dedicated to social justice and public spending."
But the leader column concludes that he has "written quite a big IOU against fortune's future favours."
Martin Woolf, one of the newspaper's commentators, writes that "casualty wards have been chosen over car producers."
Mr Brown's "commitment to fiscal loosening means that real interest rates will be consistently higher than they would otherwise be," he writes.
"It is likely but not certain that this will also mean a higher real exchange rate and a still weakening manufacturing sector.
"It does make early entry into European monetary union more unlikely."
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