Chancellor says he'll give it 110% time to worry?
Discuss issues related to the politics of the UK, such as the actions of any MP, any current or potential law, or any other factor affecting the British political system.
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Re: Chancellor says he'll give it 110% time to worry?This ^ Btw OP you have to consider the situation he inherited and have to accept there isn't much anyone could do as Chancellor of the UK exchequer. We had a boom and now we're having a bust. A recession has to happen in order for the economy to rebalance. We all have to accept that the growth we experienced was illusory and as a consequence we are left with debt. You also must understand that George Osbourne is a Politician. You can't seriously expect a Politician to just say 'Yeah we're ****ed :/'. I'm not defending the man.. but if you were in his position, I'm pretty sure you would try and mask how dhire the situation is when dealing with PR.(Original post by prog2djent)
I've believe "the call me ..." soundbite is a Cameron Phenominon ... -
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Re: Chancellor says he'll give it 110% time to worry?When you consider the state of other European countries it's not like we are under performing. We could have gone with Labour, probably had a bit higher growth in the short term but that would involve more spending. I think fuelling states on borrowed money is hopefully going to become something of the past.
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Re: Chancellor says he'll give it 110% time to worry?the economic cycle is unfortunately rather unavoidable, however much politicians try to convince us otherwise. I think labours real mistake was running a campaign under blair/brown of no more boom and bust. The idea that one country's parliament could control the economic cycle of effectively the entire world was ridiculous. As a politician you just have to hope that you are in power for the booms and in opposition for the busts, sadly for labour, their timing was out. Not that any of what i just said should be used to defend any government, they have the ability to "smooth out the bumps" if you will, with slower sustained economic growth and then if recession does occur it is alot less severe, but sadly, politics being what it is politicians like to focus on the short term, and will make anything that encourages growth as a good thing despite any awful consequences.
BTW the call me george references may be referring to the fact that George osbournes real name is Gideon -
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Re: Chancellor says he'll give it 110% time to worry?That's stunningly optimistic! Edward III was funding his state on debt in the 1300's (as had many before him), I think it is too much part of the fabric of governance to give up now.(Original post by Idle)
When you consider the state of other European countries it's not like we are under performing. We could have gone with Labour, probably had a bit higher growth in the short term but that would involve more spending. I think fuelling states on borrowed money is hopefully going to become something of the past. -
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Re: Chancellor says he'll give it 110% time to worry?Fuelling growth on borrowed money is widely accepted as the best cure for a recession. Spending more money as a nation is remarkably good and is nothing like personal debt (which we get all the negative images from). And I would argue it would not of been just short term, but if done right, long term.(Original post by Idle)
When you consider the state of other European countries it's not like we are under performing. We could have gone with Labour, probably had a bit higher growth in the short term but that would involve more spending. I think fuelling states on borrowed money is hopefully going to become something of the past.
The borrowing money would be used to create jobs and effectively pay for itself through no need to pay for welfare. Keynes always said, whatever you do, fix the unenployment.
We're doing worse than France, Germany and the rest of Eastern and Northern Europe. Its only Spain, Portugal, Greece and Italy that have similar situations thna us. When the coalition entered office though, yes, we were a better off state in Europe. -
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Re: Chancellor says he'll give it 110% time to worry?Haha I agree.(Original post by Abbadon27)
I would of hoped that they would have been "110%" focused on the economy from day one.
It is like when Labour and now the Tories have magically saved a few billion in efficiency changes in the public sector. I fail to see how this is good news in any way. Personally, I expect them to be efficient whether we have a deficit or not. To me, it highlights they were being wasteful before they concluded it would be a good idea to be efficient.
