Osborne has now been proved wrong on austerity – Martin Wolf -FT.com

Dr Alf's Blog

This is an excellent, MUST-READ article by leading financial journalist, Martin Wolf, writing in the FT.

via Osborne has now been proved wrong on austerity – Martin Wolf -FT.com.

The reality that the economic management of the UK under David Cameron  has been an omni-shambles must be sold to the masses ahead of the next election, in my view. Conservative Vs. Labour economic management will be the pivotal issue in the next election, in my judgement.

Because of excessive authority, most people, especially the middle and lower classes have suffered unnecessary financial hardship. The main beneficiaries under Osborne have been the very high earners and very seriously wealthy.

Let me turn this to an open question:

Why has the popular media not focused more on the unnecessary pain caused by Osborne’s excessive austerity?

Any thoughts?

DALIAN/CHINA, 12SEPT09 - Martin Wolf, Associat... DALIAN/CHINA, 12SEPT09 – Martin Wolf, Associate Editor and Chief Economics Commentator, The…

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One response

  1. George Osborne has been proved wrong on austerity because he failed to match it with a corresponding growth strategy based on export led growth and because the austerity programmes have gone on for far too long.
    Canada and Ireland had intensive austerity for 2 years only as a “short sharp shock” applied acroos the board coupled with strategies for growth and that attraction of inward investment.
    In that sense I agree with Dr Alf and the FT about George Osborne who in my view is a “one club golfer” without a proper idea of fairness.

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