Osbourne's Excuses

[I1L2T3]

"Osbourne effectively killed off consumer confidence and demand when he immediately increased VAT."

Largely irrelevant really.Most retail sellers discounted the VAT increase to the customer.............so that was not the reason for lack of consumer confidence!

 

Agree. The VAT is a red herring, just a small part of mosaic of issues. Even now it is lower than in most other EU countries and the government has to charge a minimum of 15% standard rate anyway.

[JFKvsNixon]

No matter how you want to dress it up the cause of the 2008 crisis was external. And in opposition the Tories pledged to match Labour spending plans even into 2009 anyway. 2008 was not a crisis that was unique to or limited to Britain.

 

How have I dressed it up any differently? The previous Labour government certainly couldn't have avoided the crisis, what they should have done is managed the economy better prior to the crisis to mitigate it's effects.

 

This is a claim that can't be levied at the current government, 'cause they've had to spend their time in government fighting fires.

[L00b]

"a sensible programme of well targeted cuts and a programme to promote growth" is not a soundbite. It's exactly what we need - public sector efficiencies and economic growth.

But what is it (in concrete terms)? What is this "sensible program" of yours? That's what I'm asking.

 

What are "public sector efficiencies"? Public service job cuts? Outsourcing underpeforming services? Resiliating unnecessary public spend? Terminating redundant appendages (OF-this-that-the other quangos)? The list goes on and, so far as I am aware, the current Gvt is doing just that

 

What is a "programme for economic growth"? Structural investment? R&D grants? Gvt underwriting of SME financing? Again, the list goes on and, so far as I am aware, the current Gvt is doing just that

 

So...

[I1L2T3]

How have I dressed it up any differently? The previous Labour government certainly couldn't have avoided the crisis, what they should have done is managed the economy better prior to the crisis to mitigate it's effects.

 

This is a claim that can't be levied at the current government, 'cause they've had to spend their time in government fighting fires.

 

Unfortunately this government has spent a whole year or more ignoring the need for a growth strategy. That is not fighting a fire. That is pouring petrol on it. As we shall see.

[WeX]

Ireland actually did the opposite to spending - it went into the mother of all austerity drives.

 

Did they? Not from what I understand of their issues. They heaped tax cuts and spent heavily until they had no money. Now they are imposing the mother of all austerity drives, but only because the IMF told them too.

[INTERVIEWER]

The Tories, together with their Lib Dem buddies, have destroyed confidence in the UK economy. This is why banks will not lend. Employers will not create quality jobs. And consumers will not spend the pounds in their pocket.

 

The Tories and Liberal Democrats are the ones who constantly blame the previous Labour administration for all of our problems. But they have made just as equally poor decisions.

 

All three establishment parties, and their politicians and members, deserve oblivion.

[L00b]

The Tories, together with their Lib Dem buddies, have destroyed confidence in the UK economy. This is why banks will not lend.

Banks won't lend because they've been told to recapitalise first (to avoid a repeat bailout scenario on the next -impending- dip), and 'help the economy' second. Can't have your cake and eating it.

Employers will not create quality jobs.

Many employers won't create quality jobs for a very wide variety of reasons, one of which may be lack of funding, another - more important one- is lack of competitivity (relative to EU and BRIC-based competitors).

 

You want international competitivity and jobs aplenty overnight? Beat the Greeks to the devaluation line

[Titanic99]

Just over a year ago Giddeon Osbourne declared that the economy was back on track after announcing a 0.8% increase in GDP. He seemed perfectly happy to take the credit for this 'good' news,

 

"What you see today, in an uncertain global economic environment, is Britain growing, growing strongly, the strongest growth we have seen in this part of the year for a decade, and also our country's credit rating being secured. That is a big vote of confidence in the UK, and a vote of confidence in the coalition government's economic policies."

 

Since then, however, things haven't been so good, and we now appear to be entering another recession according to latest figures.

 

Of course George won't be putting his hands up to claim responsibility for this - he's only responsible for the good news!! Instead he will roll out some more of his pathetic excuses.

 

Over the past year he has blamed all of the following for Britain's failing economy

 

- The snow

- The Royal Wedding

- The Labour Party / Gordon Brown

- The Lib Dems

- The trade unions

- The banks

and more...

 

Later today we can expect him to blame the Euro crisis and maybe that hot weekend we had in October. Yeah that'll do eh Giddeon??

 

So how is it that when its good news, its proof that Giddeon is right, but when its bad news its EVERYONE else's fault??

 

Maybe we should help him out -anyone got any ideas for ludicrous excuses that he might be able to use later on?

 

I seem to recall "Resistant Headwinds" was the one after the Royal wedding and before the Eurozone.

 

One day this wretched Government will work out that if you are to stimulate growth you need to stop taking a little money from a lot of people and replace it with a lot of money from a few people.

[I1L2T3]

But what is it (in concrete terms)? What is this "sensible program" of yours? That's what I'm asking.

 

What are "public sector efficiencies"? Public service job cuts? Outsourcing underpeforming services? Resiliating unnecessary public spend? Terminating redundant appendages (OF-this-that-the other quangos)? The list goes on and, so far as I am aware, the current Gvt is doing just that

 

What is a "programme for economic growth"? Structural investment? R&D grants? Gvt underwriting of SME financing? Again, the list goes on and, so far as I am aware, the current Gvt is doing just that

 

So...

 

Sensible well-targeted cuts are what they sound like. A programme of well thought out cuts that increase efficiency, remove dead wood. Above all they should be joined-up and coordinated between government departments to ensure that services continue to be delivered effectively. Remember, each department was given cuts to make individually - there was no overall strategy. No thought to regions. Just hack and slash.

 

The government is doing nothing to promote growth yet. It could have been doing so by now but it is only just coming up with the ideas. You can't gloss over the fact that growth was supposed to magically spring from the private sector and it didn't. Monumental blunder warned against repeatedly. An experiment that just didn't work.

[JFKvsNixon]

Unfortunately this government has spent a whole year or more ignoring the need for a growth strategy. That is not fighting a fire. That is pouring petrol on it. As we shall see.

 

The government has spent the year fighting to make sure we weren't sucked into the European debt crisis.