I can’t believe I have to do this, and it really pains me to admit this, but for once I’m going to agree with Gideon Osborne. I was watching The Andrew Marr show this morning and two of his guests were Ed Balls and Gideon Osborne. Now, as most regular readers of this blog will know I’m no lover of either Labour or The Conservatives (or The Lib Dumbs for that matter) so having to agree with a Tory is a very difficult and bitter pill to swallow.
However, Ed Balls was first on and that slimy, odious twit had the cheek to criticise Osborne for not doing enough to help the economy. This coming from the guy who was known to be Brown’s right-hand man at the treasury and was, therefore, arguably instrumental in helping to land Britain in the economic mess we are in. Lest we not forget it was Labour’s 13 years of spending, borrowing and deregulating of the financial sector which helped cause such a monumental economic crisis back in 2008. A crisis which, in fairness, the Conservatives have done little to put right since they came to power in 2010. However, Balls (in his usual unintended hilarious manner) glibly mentioned that Osborne would fail his G.C.S.E economics exam. Then went on to say how if he was Chancellor would increase spending and borrowing for the public sector in order to kick start the economy. Jesus wept!
This is Labours’ fundamental economic problem, they always want to spend more money on the public sector and think that is the answer to all our financial problems. It isn’t! It is borrowing and spending money that we don’t have which has put us in such debt to begin with, and this lunatic wants us to do more of it! In addition, the presenter rightly pointed out to Balls that Britain had lost its triple A rating because it had failed to bring public sector spending down and was still borrowing too much. A fact which Balls simply couldn’t answer so tossed it aside. Never let the truth get in the way of your prepared message, aye Ed?
When it was his turn to answer questions, Osborne rightly pointed out that borrowing and spending too much money was the strategy that Greece and Cyprus had adopted, and we should look at the real mess they are in now. He also mentioned that you can’t get out of debt and bring the deficit down by borrowing more money and spending it on things you simply can’t afford. Now, on those two points I have to agree with Gideon. You will never know how painful that was to write!
Yes, Ball’s ideas might sound good to the sheeple of the mass voting public, but to those of us who know a little bit about economics, we can see just how utter disastrous those kind of policies would inevitably be. Sure, we might have better public services (at least superficially better) for a few years, but the cost of those would put us in exactly the same position as Greece and Cyprus are now within a decade or more. It would be a financial catastrophe, which would make both the 2008 crisis and 1930s depression look like a jolly holiday. I kid you not.
Anyone who votes for Labour and Ed Balls as Chancellor in 2015 wants shooting. Having said that, let me be absolutely clear, I don’t think Gideon and Dave would be any better either.