Friday, 27 May 2016

Austerity Still Not Working George

The UK chancellor, George Osborne, announced austerity plans when he took over at the Treasury in May 2010 and vowed to bring the UK into surplus by the end of the first Government, a plan that has slipped to him promising to do it now by the end of the second Government.
His view that what was needed was deep austerity cuts to pay off the debt accumulated during the deep slump of 2008-09 was vital for the economy’s long-term growth prospects which set up almost a decade of horrific cuts to everything he got his grubby little hands on.
The International Monetary Fund have now stepped forward to say that austerity policies do more harm than good as it creates inequality which is bad for growth and causes instability.
When your policies are too right wing for the IMF then perhaps you need to have another think but if the ideological reasoning behind austerity was just an excuse for the rich to get richer and make the poor poorer, mission accomplished because it is exactly the effect austerity has had.

3 comments:

Keep Life Simple said...

Well that is a mixture of conjecture and utter nonsense. Well done.

Keep Life Simple said...

You kinda rant a lot about austerity and the right :-)

Falling on a bruise said...

You will have to take that up with Ms Christine Lagarde and her bunch of merry men and women.