• The post you are reporting:
   
  You wish Keith...
  
  Lets cut through the crap.
  
  1/ The figure for growth at 0.2% while lacklustre was better than some independent commentators forecast only two weeks ago. Some were saying GDP would fall.
  
  2/ Recovery from the recession is actually following the normal path of other recessions where recovery is patchy and rocky at first and given Labour's recession was the longest and deepest for over 80 years added to the international situation this recovery will inevitably be rockier than normal.
  
  3/ Over 500,000 private sector jobs have been created over the last year - you may have not seen that news as it is good so not widely reported. This means the necessary rebalancing of the economy is happening.
  
  To hear that complete dunderhead Ed Balls (a great word and the politest description I can think of for him) speak you would think that all would be rosy if Osborne started spending more and running up even more debt. The facts are different. You do not solve a deficit and debt problem by borrowing yet more, that is like pouring petrol on a burning house.
  
  A few facts about how 'tough' Osborne is being:
  It will take the UK 35 months to halve the deficit (that is just to halve the amount being overspent remember...) Compared to: 23 months for Germany, Finland and Greece and 10 months for Ireland.
  At best Osborne will just get public spending back to the same level as 2005, the point at which Brown went into 'structural deficit' territory.
  Obama plans to cut public spending in the USA by 3.8% in two years - that is being critisised as insufficient there.
  Dennis Healey the Labour Chancellor cut British public spending by 3.9% over two years in 1977 and 1978.
  Osborne's so called tough regime is only cutting it 3.4% over 5 years.
  
  So much for too deep to quickly.
  
  If Osborne is going wrong it is that he is not cutting enough, his actions are not living up to his rhetoric. He needs to really get tough and start slashing public spending a lot more. Then he needs to cut that to rate of tax, one of the highest in Europe, only Sweden and Denmark are higher. he needs also to speed up his cuts to business taxation and to slash the red tape.
  
  Reg - anyone who stoops to quote the dunderhead is really desperate. Balls has no credability, he was one of the guilty men who got us into this mess. You need only to watch him on Paxman to understand how he got us to this state.

Report Post

Your Name

Reason