Posts Tagged ‘George Obsorne’

Exposed: Osborne’s secret addiction to debt

30/03/2011, 07:00:33 AM

by Dan Cooke

A charlatan chancellor is as predestined to opprobrium as a philandering preacher.

This government has found a vivid and compelling rhetoric to justify its choice to slash services and squeeze the middle. When George Osborne urges the need to pay off the “nation’s credit card” it resonates with the common sense verity that all should live within their means. The polls show every week that this homely paradigm is the bedrock of government support and the stumbling block for Labour breakthrough.

Yet Osborne’s silver tongue is forked. His strictures on the evils of debt are an indictment in his own case. His ultimate comeuppance is as certain as for a televangelist preaching chastity while screwing half his flock.

The final audit of coalition Britain has not yet been written, but the first draft is the revised forecasts of the office of budgetary responsibility. These show the truth about the preacher when the camera is off. They tell a story of more public borrowing and more private borrowing, even as public and private investment is squeezed. And they tell a tale of premeditated deception on debt. (more…)

Facebook Twitter Digg Delicious StumbleUpon

Cameron reaches a crossroads

26/01/2011, 03:00:05 PM

by Kevin Meagher

David Cameron was fond of claiming that Gordon Brown “failed to fix the roof when the sun was shining”. Now his chancellor blames the economy’s 0.5% retraction on the snow.

Of course the wintry weather did growth no favours. But George Osborne’s feline political skills eluded him big time yesterday. Did the figures come as a surprise? Caught on the hop? Blaming the elements is reminiscent of the howlers Norman Lamont used to make when he was chancellor. “Je ne regrette rien“, George?
Perhaps he just realised he had nowhere to hide. After all, a government that has removed the roof tiles is to blame for yesterday’s atrocious growth figures.
This deterioration in the economy is theirs and theirs alone. Q2 and Q3 growth was reasonable; evidence of Norman Lamont’s infamous “green shoots” breaking through.

But these have been choked off by the £6 billion worth of cuts the government made last year and the endless sabre-rattling about cuts to come which has squashed consumer confidence.

George Osborne has not made the laws of economics redundant. Poleaxing tentative growth with a slew of tax rises and spending cuts as the economy crawls out of recession was always going to lead to this. Labour was right last May: the Tories cannot be trusted to secure the recovery. (more…)

Facebook Twitter Digg Delicious StumbleUpon