Osborne detached on Marr

George Osborne today did a good impression on the Marr show, of being completely detached from the economic realities of the moment. On the one hand, he said the recovery wasn’t in the bag. Then he refused to support any of the measures we’ve put in place to make sure the recovery is delivered! (globally, by the way, we’re only half way through the stimulus agreed this year). Here in Britain, Government plus Bank of England action is supporting upto 500,000 jobs and helping hundreds of thousands stay in their homes. Cutting that back is simply a recipe for a recovery that doesn’t happen.

More curious was his inability to give a word of detail about the vast spending cuts he’s proposed (you can tell he’s not in control of the shadow cabinet, because they keep making big spending committments). We heard a bit in the press about ‘boomerang bosses’ – but this is something the Audit Commission is already investigating. Anyone would think he’s making it up as he goes on air. Yet, this is a time for sensible economics, not school-boy politics…

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One Response

  1. Great points about Osborne. His arguments are deeply flawed. I think 1981 budget was disaster but it would be worse now because private sector is in crisis and could not substitute for public sector investment. In other words, the ‘Treasury View’ is obviously bankrupt.
    It is also interesting to note how isolated the Tories are. G20 includes governments with wide range of ideological commitments but they all agree to stimulus plan. The Tories have adopted a dangerous and obscure economic position.

    Keep up the good work.

    Take care

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