This is an outstanding article from Owen Jones, published in the Guardian. He argues that the Tories’ failed model and stagnant economy has encouraged an unsustainable rise in household debt. Critically, he qualifies that Labour needs to come up with a viable alternative.
Regular readers of this blog will be familiar with my political views and they are very different to Owen Jones’. However, I agree with Jones on Osborne’s smoke and mirrors tactics. Jones asks many critical questions which John Gelmini and I have been sharing on this blog.
Of course, the UK economy is heading for another debt crisis. It’s not about buy-to-let landlords, it’s about credit card debt – but Osborne prefers to bash the landlords to score a few political points.
The bottom-line is that Labour must come up with an alternative AND convince the public that it’s better. For me, Ed Balls was always a hundred times more qualified than Osborne to talk about economic policy.
As a final thought, I don’t think that Osborne has the public appeal to be prime minister – Boris Johnson is another matter!