English: East entrance of HM Treasury Français : Entrée Est de HM Treasury (Photo credit: Wikipedia)
This is an excellent op-ed by New Statesman editor, Fraser Nelson, published in the Telegraph. Nelson explores George Osborne‘s rotten summer.
Source: George Osborne lost at his great political game. Now Theresa May is erasing him from history
I agree with Nelson that Theresa May seems to be taking a very different path to George Osborne and rapidly erasing his legacy. However, I disagree with Nelson that Osborne should be remembered for his achievements as Chancellor rather than presiding over Brexit.
Osborne was too political for his own good and never really paid enough attention to the economic fundamentals. In terms of austerity, on the one hand he was ‘chicken’ and afraid of deep cuts but on the other he made prolonged austerity his central policy. Osborne constantly ignored professional economists’ cries to ramp up investment. Similarly, he did little to improve the UK’s skill base or raise exports. Prior to the last election, he introduced government guarantees to create a property boom.
Osborne was all about smoke and mirrors – this is why Theresa May is able to erase his memory so easily.
Most of all, Osborne was privileged and elitist, detached from the realities of ordinary people. For him and his public school cronies, politics is a game. Theresa May is right to return to values and serving one’s country.
Despite everything, Osborne is very capable but he must redeem himself and not cause mischief with the black arts if he is to return to favor.
Thoughts?
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