LONDON – OCTOBER 20: Britain’s Chancellor of the Exchequer George Osborne, right, with Chief Financial Secretary to the Treasur Danny Alexander leaves the Treasury building for the House Of Commons on October 20, 2010 in central London, England. Chancellor of the Exchequer George Osborne is set to announce the coalition government’s spending review in Parliament. The review is designed to tackle the country’s deficit and will outline swingeing cuts throughout the whole of the public sector with many public sector jobs set to be axed and budgets significantly reduced. (Image credit: Getty Images via @daylife)
This is a very interesting article in the FT and well worth a read. Check it out!
Personally, I felt strongly about the conclusion and posted the following comment in the FT:
This is an interesting article.
Whilst the conclusion is valid, surely there is a bigger point, namely the convergence of the “supply-siders” and the “demand-siders” in challenging George Osborne‘s record – based upon his results achieved? There is no place for excuses, this is an omni-shambles and failure – one would have expected an effective Government to be deploying risk management with contingency planning.
Just like in the US, at the moment the intellectual high ground seems to be with the “demand-siders”. It is time to stimulate demand, focus on growth, combined with a planned, medium-term commitment to austerity, including serious reform and transformation of the Public Sector – possibly including out-sourcing all non-strategic operational activities.
What do you think?
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