Losing the UK’s long held AAA rating with the credit
agencies, although embarrassing for the Chancellor, comes as no real surprise
to the markets and will do little harm to the man in the street.
On hearing the news, it’s was interesting to know that
Moody’s (the Agency who reduced the rating) said, “The UK's creditworthiness
remains extremely high" partly because of “strong track record of fiscal
consolidation. They went on to explain that the “Slow growth of the global
economy” is cited as first reason by Moody’s for downgrade and went on to
praise the UK’s “fiscal policy commitment” but warns of further downgrade if
there should be a “reduced political commitment to future fiscal consolidation”
MR BORROW MORE & MR SPEND LESS |
Not one to miss a chance to stick the boot in, Labour’s Ed
Balls wasted no time in travelling from Newsroom to newsroom saying, “It’s time
to change tactics as the Coalitions policy is not working!”
His immediate answer was to stop the austerity measures,
start borrowing again and spend our way to growth!
In the TV interview I watched, Mr Balls called Mr Osborne a "quack doctor when it comes to the economy." Strangely, Mr Balls insisted that the economy would be in a better condition if the coalition had stuck to Labour's spending plans in 2010. However, he admitted he would currently be increasing borrowing if he was in charge!
This would be the same Ed Balls who presided over the disastrous
tax and spend policies of Labour who caused the damned problem in the first
place and given half a chance, by his own admission, would do exactly the same again.
GIVE ME THE LEGO AND I'LL RE-BUILD BRITAIN |
Meanwhile the other Ed, the Labour leader has called on
voters to give him a chance to rebuild Britain and boost the country's ailing
economy.
Here’s what he said, "I think in the toughest times you
need a government on your side... That's the government that I would want to
lead - a government that brought real change to this country so we could
rebuild Britain."
Ed, get real, I think we’ll will go and get a quote from
another builder. One with a lot more experience; one whose got a track record
and can show us examples of structures that are still standing!
You may have forgotten, but you’ve already been part of a
Government that brought real change to this country, unfortunately you nearly
bankrupted it and when it was on its knees; when your colleague at the Treasure
left a farewell note saying, ‘There’s no money left’ you and the rest of the big-spenders were kicked out!
Unfortunately, that brought us another bunch of clowns who
basically carried on where your ‘New Labour’ bunch left off!
We have now reached the tipping point! The British people
have had enough! It’s now time that all our politicians woke-up! - Britain does
not need rebuilding! It’s the economy stupid! - Our Economy is stretched
because of ridiculous policies from both Labour & Conservatives alike! We
need to close the door on immigration, get us out of the corrupt European
Union, stop fighting wars that have nothing to do with the immediate security
of this country, stop handing out £millions in foreign aid and start looking
after this Country and all its people. And it needs to be done now!
Personally, I and many others who love
and respect this once great country don't have 40 years to wait to live through
another failure!
Brilliant C,
ReplyDeleteI loved your last 5 paragraphs and how very, very true.
Bill
http://www.walksintameside.co.uk
Thanks Bill. ...It's not easy sometimes pointing out the King has no clothes! C
ReplyDeleteI'm interested in your economic case for closing the door on immigration.
ReplyDeleteWhilst I approach this argument from the left (which isn't an argument you're likely to listen to), if you take a look across the political spectrum you'll find that those on the right who have looked at the statistics display the same positive attitude to immigration that I do: http://www.adamsmith.org/blog/international/immigration-restrictions-make-us-poorer.
The populist xenophobia of the Mail and Express, whilst it sells newspapers, has little basis in the economic reality.