The Road to Ruin – With No Good Intentions

George Osborne, whose arrogance and ambitions know no bounds, talks in terms of ‘turning a corner’ – unfortunately it is into another blind alley for us. He says there is no alternative to Plan A, and in reality Labour’s Plan B is no such thing, just a variation of Plan A. Osborne and his clones have no answers – only more and more austerity for ‘hard-working families’, the phrase that Cameron and his clan use ad nauseum in all of their speeches.

The Chancellor says Britain is now enjoying its fastest growth for fifteen years, which wouldn’t be that difficult considering its very low base level. The worst of the cuts are yet to come but Osborne declares that a ‘broad and sustainable recovery’ is under way. Meanwhile, living standards continue to plummet for most people. Of the G20 nations over the last three years only Japan and Italy had recorded lower growth than Britain.

Governments are well used to massaging unemployment figures; this regime is crowing about an increase in jobs, albeit that many are part-time and on zero hours contracts. Neither do most governments learn from the past. This government’s ‘Help to Buy’ scheme can only fuel a house price bubble. The bedroom tax will cause considerable inflation in renting privately. Private landlords will make a killing. No British government has built a sufficient number of houses to satisfy our country’s housing needs.

Lending to business and industry is actually falling. A plunging pound has done little to boost exports. Another mistake of the past will see a repeat of a consumer led boom with cheap money. Contraction in regions outside London continues. Real growth can only occur when living standards are rising, not by merely boosting private debt. Are we condemned to repeat the Past?

All of the above, taken together with a broken banking system and financial and political corruption, mean that they have no answers for us.

 

 

 

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