Friday, January 21, 2011

Polly on the money (again)

Excellent article in the Gruaniand:-

"As the Cameron/Osborne economic policy takes on a distinctly 1930s echo, alternatives begin to look credible. People open their ears to why it need not be this way, why growth is a better deficit cure than cuts. As Larry Elliott points out, growth at 1.1% was picking up fast in Labour's last quarter last year, buoyed by Keynesian stimulus – such as the car scrappage scheme and building schools for the future: that growth made the deficit fall £30bn faster than Treasury forecasts and unemployment was falling, not rising.

Compare that with the third quarter of the same year – growth falling to just 0.7% – and predictions that the fourth quarter will drop to 0.4%. Will he apologise? He told the World at One , "We didn't get everything right", but then listed successes with a gusto that has been missing so far from Labour's story. Half apologies work well: every time Cameron says Labour failed to regulate the banks, quote back to him his clamour for less regulation. Every time Cameron accuses Labour of over spending, remind him that he pledged to stick like superglue to all Labour's spending plans. Facts can't be denied indefinitely, and Ed Balls will make sure they are broadcast far and wide."


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