Wednesday, September 23, 2009

Osborne's Cuts

Not the words of a Labour activist or a government spokesperson, but the words of a former member of the Bank of England.
I always found it disturbing that the Conservatives were not specific about what cuts they would want to make, whereas Labour have been quick to defend the need for spending and investment in public services. Now we know.
Osborne has always been seen as more of a Conservative Party campaigner (and an unpleasant one at that) than as a heavyweight Shadow Chancellor, one wonders if Dave Cameron gets the message and whether Osborne will ever grow up!

1 comment:

Man in a Shed said...

That wouldn't be this David Blanchflower would it ?

If so he's a Labour supporter.

Unemployment is of course already very high, given that the new jobs the economy produces go 90% to foreigners due to the failure of our education system and society to prepare people for work.

There is a very desperate problem beneath all of this. And that is how we pay for what we import. Too many people are employed by the state - too few in making things or providing services to trade.

(The use of the word investment by New Labour politicians has been very deliberately misleading. Its spending, investment is in long term capital assets that will reduce current running costs and there's been far too little of that - or more often its failed costing billions of wasted pounds like the NHS IT project ).

Brown carried of the first 10 years based on a debt fuelled property boom, and is seeing if he can last to June 2010 with sovereign debt and printing money. But which ever way you look at it its a desperate hole he has dug us and flung us in.

I don't think you can really have come to terms with how desperate our situation really is.

Only Frank Field seems to get it on the Labour side. If you won't trust a Tory - then at least read what he has to say.

This is too serious for spin or party positioning. One of the key reasons Britain struggled so desperately in the 50's and 60's was national debt. And its all going to happen again because of Gordon Brown.