Tuesday, 24 March 2009
Not more porky's from Brown
Why are you telling porky's! that's in the mind of both Antoinette Mandleson and dumbledorf Darling who are pulling a funny face behind Brown's back.
Now, it is you Brown with your Liebour cronies who are totally isolated. The Europeans won't touch anymore of your 'stimuli' with a bargepole, and your stimulus is totally different from Obama's, who at least is cutting out a load of deadwood state spending to re-invest more productively. The USA is still not burdened with the prospect of a state spending deficit equivalent to 15% of GDP. And it's not as if you have actually done or achieved anything yet. Our future debt burden would be a great deal less onerous if you would only shut up for a month or two. Besides, the sound of your droning voice gets on my nerves.
The governor of the Bank of England today warned there should not be another fiscal stimulus in next month's Budget because of the state of public finances. In a blow to Gordon Brown, Mervyn King said the Government must be 'cautious' because of the collapse in tax revenues and the burden of higher benefit payouts.
George Osborne hailed Mr King and Mr Byers comments as vindication for the Tories's stance and claimed the Prime Minister is now isolated.
The big debate in British politics about the recession has been whether or not the country could afford a debt-funded fiscal stimulus.
Today, not only has a former Liebour cabinet minister attacked the ineffective VAT cut, but the Governor of the Bank of England no less has said Britain cannot afford a further fiscal stimulus.
He goes on to say that monetary policy should be the main tool to tackle the recession. This is hugely significant. Mervyn King is spot on in his thoughts and words, "He" is the man i/c the Nations finances not the Government monkeys. He is somebody in authority, with credibility, experience and guile and has to make a stand, being controversial is not the issue, its being right, which effects us all that matters.