6 December 2012...fell the Shadow Chancellor, with a typical 'Balls-up'.
In his reply to George Osborne's Autumn statement Ed Balls-up almost told the truth but then corrected it to his pre-prepared lie. He never recovered from his 'almost' moment as The House fell about laughing at him. As inept in the House as he was as the key adviser to his master, Brown, this is the man that Labour would foist upon us as Chancellor if ever we were foolish enough to vote them back into power.
As an Autumn statement it demonstrates the limits to our democratic system. George Osborne is more concerned about what the headlines will be and getting re-elected than getting the economy right. It is full of the wrong compromises with the LimpDems, compromises that just prolong the period needed for recovery. Slower deficit reduction, higher debt, lower growth and fewer jobs is the price we will pay for his going so slowly over what needs to be done. But at least Osborne is taking us in the right direction whereas the hapless Balls-up would just go in the wrong direction and drive us off Beachy Head Cliff.
The main thing that is wrong with Osborne though is in the language he uses. His talk of austerity and many more years of 'tough times' is not the way to repair the economy.
I am no Keynseyan but Keynes was right when he spoke of 'animal spirits', he was only wrong in his remedies. The economy is about confidence and to get it going we need businesses and investors to be bold. The way to repair the 'animal spirits' is less talk of austerity and more talk of going for growth by cutting back of The State and allowing people, businesses and the economy to breath. To provide real direction through a bold programme of tax and red tape cutting with all the supply-side reforms so badly needed by those business with most scope to grow, the small and medium size business sector. To stop attacking success and to encourage it.
Socialists whether in the Labour Party, the LibDems, or anywhere else simply do not understand what makes the economy tick. To them the solution always lays with government, in their own hands and their largesse with our money. They think they know better than we more mortals, that they know how best to spend our money, that they know best how we should act. The opposite is true, politicians are the cause of our problems and specially those who are fully signed up to the 'government must do something brigade'. This is why every single period of Labour government has ended in economic crisis, despite their rhetoric it has been the Labour Party that has been THE Party of unemployment having increased it in every period of being in power. It is therefore no surprise that the longest ever period of Labour government has ended in the biggest ever bust, regardless of the international perspective, again one caused by 'I know better' big taxing, big spending politicians.
I watched a short bit of the proceedings yesterday and it appeared that many present engaged mouth before brain...so a pretty normal day, by their standards.
I did also note the 'Oz-effect', the bigging-up of the other David being a small part of it., the "never have I heard such a lack-lustre response before, in this House", (or something very similar) from GO is perhaps an egg or two too many in this propaganda-pudding. Whatever those present in the House may be, Elder Statesmen they are not.
That a reading and rereading of the speeches of yesteryear yields only quotes of rhetoric from ages past and none of the accompanying deeper gravitas retells the fact that you cannot buy brains.
"The way to repair the 'animal spirits' is less talk of austerity and more talk of going for growth..."
Could this be a direct quote from one, either or both the Eds on the opposition front bench? It is likely that this is so.
Tsar Nicholas would recognise the thrust of your argument Barry, and that is not a good thing.