Austerity gone too far? : Mon Apr 29, 2013 11:36 am  

http://www.bbc.co.uk/news/business-22307926 Although the item is about the EU, my eye was caught by the stat for the UK ... i.e. the decline in growth and GDP in the UK having raised the ratio of debt-to-GDP in Britain from 52% to 93% between 2008 and now. This was entirely predictable and I cannot believe that Osborne, Cameron, Clegg and Cable could claim that it's a surprise. Indeed, Clegg did predict before the election, (as did Alistair Darling), that the Conservatives were going to go too far, too fast ... just that Clegg changed his mind after the election and after the promise of a deputy prime ministership, thereby going back on the main plank of his policy. (which, incidentally, to my mind reduced the validity of the ConDem mandate). Clegg did, of course, say early this year that maybe they should have paid more attention to growth and GDP in the early days of the coalition, thereby u-turning his view for the second time. Make up your mind Nick ! The IMF is not noted for being a soft touch but even Christine Lagard has been urging for months now that an easing-off of austerity might not be a bad idea (which is about as strong as IMF language gets). Just what will it take for Osborne to desist from his ideological campaign and actually do something that makes economic sense?

http://www.bbc.co.uk/news/business-22307926 Although the item is about the EU, my eye was caught by the stat for the UK ... i.e. the decline in growth and GDP in the UK having raised the ratio of debt-to-GDP in Britain from 52% to 93% between 2008 and now. This was entirely predictable and I cannot believe that Osborne, Cameron, Clegg and Cable could claim that it's a surprise. Indeed, Clegg did predict before the election, (as did Alistair Darling), that the Conservatives were going to go too far, too fast ... just that Clegg changed his mind after the election and after the promise of a deputy prime ministership, thereby going back on the main plank of his policy. (which, incidentally, to my mind reduced the validity of the ConDem mandate). Clegg did, of course, say early this year that maybe they should have paid more attention to growth and GDP in the early days of the coalition, thereby u-turning his view for the second time. Make up your mind Nick ! The IMF is not noted for being a soft touch but even Christine Lagard has been urging for months now that an easing-off of austerity might not be a bad idea (which is about as strong as IMF language gets). Just what will it take for Osborne to desist from his ideological campaign and actually do something that makes economic sense?

Re: Austerity gone too far? : Mon Apr 29, 2013 11:58 am  

El Barbudo wrote:

Just what will it take for Osborne to desist from his ideological campaign and actually do something that makes economic sense?

Nothing will make him change his mind.

The "austerity" measures introduced by the tory element of the government and wholeheartedly endorsed by their LimpDem partners has nothing to do with restoring the fortunes of our nation. Instead, they are an ideologically-driven agenda to shrink the state at the real expense of the most vulnerable and to the benefit of their chums in the private sector, who will be the very real winners when they are trousering the large cheques countersigned by Camoron, Gideon and Quisling Clegg.

Re: Austerity gone too far? : Mon Apr 29, 2013 12:15 pm  

cod'ead wrote:

Nothing will make him change his mind.

The "austerity" measures introduced by the tory element of the government and wholeheartedly endorsed by their LimpDem partners has nothing to do with restoring the fortunes of our nation. Instead, they are an ideologically-driven agenda to shrink the state at the real expense of the most vulnerable and to the benefit of their chums in the private sector, who will be the very real winners when they are trousering the large cheques countersigned by Camoron, Gideon and Quisling Clegg.

Who won't, of course, end up with directorships of any private sector service-providing companies when they quit politics. Perish the thought.

(Of course it could be argued that Clegg has already quit politics)

Re: Austerity gone too far? : Mon Apr 29, 2013 12:19 pm  

cod'ead wrote:

Nothing will make him change his mind.

The "austerity" measures introduced by the tory element of the government and wholeheartedly endorsed by their LimpDem partners has nothing to do with restoring the fortunes of our nation. Instead, they are an ideologically-driven agenda to shrink the state at the real expense of the most vulnerable and to the benefit of their chums in the private sector, who will be the very real winners when they are trousering the large cheques countersigned by Camoron, Gideon and Quisling Clegg.

This.

Re: Austerity gone too far? : Mon Apr 29, 2013 12:28 pm  

They haven't started on the cold baths, fagging and whipping us round the back of our bare legs with wet towels yet.

Re: Austerity gone too far? : Mon Apr 29, 2013 12:39 pm  

The British public clearly do not think austerity has gone far enough. Appparently, per a poll reported this morning 72% of Tory voters think politicians are reckless in spending taxpayer money, 69% of Lib Dem voters and a whopping 79% of Labour voters. When asked the question differently, only 19% thought they spent money wisely.

In essence, Labour have nowhere to go on this issue as the Tories are in step with public opinion.

Re: Austerity gone too far? : Mon Apr 29, 2013 12:42 pm  

Dally wrote:

The British public clearly do not think austerity has gone far enough. Appparently, per a poll reported this morning 72% of Tory voters think politicians are reckless in spending taxpayer money, 69% of Lib Dem voters and a whopping 79% of Labour voters. When asked the question differently, only 19% thought they spent money wisely.

In essence, Labour have nowhere to go on this issue as the Tories are in step with public opinion.

Which poll is that and what was the question asked in it?

Re: Austerity gone too far? : Mon Apr 29, 2013 12:43 pm  

El Barbudo wrote: Which poll is that and what was the question asked in it? http://www.cityam.com/article/british-p ... nservative

El Barbudo wrote: Which poll is that and what was the question asked in it? http://www.cityam.com/article/british-p ... nservative

Re: Austerity gone too far? : Mon Apr 29, 2013 12:58 pm  

Dally wrote: http://www.cityam.com/article/british-public-slowly-becoming-more-fiscally-conservative Oh dear, a survey conducted on behalf of 4th Agenda and, lo and behold, it "proves" that the majority of people are in favour of a fiscal cliff. Never mind that a fiscal cliff is (coincidentally, of course) the the main demand of 4th Agenda, never mind that most people in the UK don't know what fiscal cliff means and never mind that the question wasn't actually about this government but just about "government" in general. Only a month ago another poll showed that only 20% thought the coalition's policies were good for the economy. 58% thought they were harmful. http://www.guardian.co.uk/politics/2013 ... inion-poll

Dally wrote: http://www.cityam.com/article/british-public-slowly-becoming-more-fiscally-conservative Oh dear, a survey conducted on behalf of 4th Agenda and, lo and behold, it "proves" that the majority of people are in favour of a fiscal cliff. Never mind that a fiscal cliff is (coincidentally, of course) the the main demand of 4th Agenda, never mind that most people in the UK don't know what fiscal cliff means and never mind that the question wasn't actually about this government but just about "government" in general. Only a month ago another poll showed that only 20% thought the coalition's policies were good for the economy. 58% thought they were harmful. http://www.guardian.co.uk/politics/2013 ... inion-poll

Re: Austerity gone too far? : Mon Apr 29, 2013 2:20 pm  

El Barbudo wrote:

Oh dear, a survey conducted on behalf of 4th Agenda and, lo and behold, it "proves" that the majority of people are in favour of a fiscal cliff.
Never mind that a fiscal cliff is (coincidentally, of course) the the main demand of 4th Agenda, never mind that most people in the UK don't know what fiscal cliff means and never mind that the question wasn't actually about this government but just about "government" in general.

A well-informed critique of a poll whose results do not fit your agenda!