Visitors Now:
Total Visits:
Total Stories:
Profile image
By Capitalists@Work (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

What did George Osborne do to the Telegraph?

Monday, August 27, 2012 6:00
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Back from hols and reading the newspapers for the first time in a while, I am struck by the Telegraph’s constant attack on Government economic policy.

This is after all traditionally a Tory newspaper and a very conservative one too. Yet day after day they are printing strong attacks on the current Government policy. Mr Osborne must have been most rude at some dinner party or other to the Barclay brothers.  Most of the alternatives suggested come under the headings of:

1 – they are already trying this, but should do more
2 – Raise the deficit and hope it all turns out ok
3 – Do something different, something must be done

Kate Barker today is a classic of the weeks articles, QE not quite right, Banking reform not quite right. Nothing about real change.

None have made the blindingly obvious link between the recession, government spending and taxes. Taxes are very high, high enough to hold back demand substantially or for people to go to major lengths to avoid it (I note how very many people have suddenly become self-employed, I have a hunch this is not all down to not being able to get jobs, but partly down to realising you can halve your tax bill this way or do less work for the same money).

Alas with so few cuts to ongoing major expenditures like Welfare and the NHS and other services, but instead to capital spend, the deficit remains a mill around the Country’s neck with politicians dreaming up yet more ways to raise taxes to feed the monster.

A quick end to the recession is probably impossible with such a weak global outlook, dreams of an export led boom are fantasy too as a slowing China will dump huge excess capacity on the world shortly.

The original plan was said to be 80% cuts and 20% tax rises – we need a new one, 120% cuts and 20% tax cuts. Sadly, we are not going to get this and so instead watch the debts grow and the economy shrink for a good while yet. Then when Ed Milliband gets in watch the debts grow faster and the economy stagnate.



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.