English: Eric Pickles, British politician and Chairman of the Conservative Party, at the Health Hotel “Health Zone” at the Manchester Central Conference Centre during the Conservative Party Conference 2009. (Photo credit: Wikipedia)
Government spending (Photo credit: 401(K) 2013)
This upbeat press release from Eric Pickles, the UK Local Government Minister, is a MUST READ article in my view. Check it out!
via Eric Pickles: Delivering new homes for hard-working people – Press releases – GOV.UK.
Whilst the UK Government fiscal policy is very slow to help investment and jobs, the Government guarantee scheme for housing loans is a risky policy in the eyes of many economists (See this week’s Economist). Many argue that it’s, in effect, a UK sub-prime crisis waiting to happen.
With the Labour Party is disarray, the Coalition of the Conservative and Liberal Parties are playing a risky game to kick-start to UK economy and create a feel good factor ahead of the election. In reality, the Government is stimulating a property bubble which seems to contradict the central message of austerity.