"With the amount of red ink in the UK budget deficit next year, together with the amount of new liabilities the taxpayer is having to underwrite, we look like Iceland-on-Thames. The open question is whether we can get through this without a loan from the IMF."
You might think that is a quote from a right wing blogger. Or George Osborne. Or John Redwood. It isn't. It was the lefty economist of choice, Will Hutton. It's the first thing he has ever said that I have agreed with.
15 comments:
You will probably agree with his comment in the Guardian yesterday then.
http://www.google.com/support/webmasters/bin/answer.py?hl=en&answer=76465
"Unless we act quickly, decisively and cleverly, the difficulties of our banks could overwhelm us, triggering an enormous run on the pound. Britain, in short, risks bankruptcy."
And he's absolutely right. It's clear that we have to get rid of this New Labour government now - they're going to bankrupt the country if they're allowed to get away with this.
If Brown keeps on then the IMF will have to come.
Labour will of course then have someone to blame for the things they are putting off doing right now.
You know it's getting bad when you become immune to the word "billion" and only pay attention if we're talking trillions. It really is getting to that point for me - you do wonder where it all ends.
On a ligher note, good to see we are 14 points ahead again!
No one covering Tory Birmingham City council....10 Baby P's in the past 3 years
No one covering Tory Birmingham City council....10 Baby P's in the past 3 years
I think you were right the first time, Jimbo.
A Tory run council , birmingham, being investigated because they have had 10 Baby P's is apperently not to be talked about
I wonder will Mike Whitby be resigning.
Guess what ! Birmingham City council have for the past 4 years delivered lower ( 2% ) counciul tax increases. ie cut services = dead kids.. I think the Tories should have a poster campaign with a bady on it - such posters are all over Brum..
Cap in hand to the IMF - again. Which party was in power then? Another Winter of Discontent?
Well it's good to see someone coming to his senses on this.
Andy in Newcastle is spot on - I've lost all concept of X,000,000,000,000...
On a lighter note - try this for the most hilarious bit of lefty 'spontaneous' content contribution courtesy of labourlist on labourist!
http://www.labourist.org/labourlist-viral-video/comment-page-1/
Every Labour gummint bankrupts the country.
Every Socialist country goes broke
When a State pays people to sit at home and do bugger all, guess what they'll do?
I heard Hutton on Radio Four at lunch-time. Not long afterwards a Labour peer [didn't catch his name] was asked what he made of the "Iceland-on-Thames" remark. He said it was "nonsensical". I do hope he's right, but part of me wants him to be haunted by that word one day.
We've got an Iceland here in Watford, it's near the pond on the High Street. What's so funny about an Iceland near the Thames? Anyone would think you are all morons!
Birmingham? Its the workers on the ground and the 'civil servants' managing them that have direct responibility.
But last I heard - and pardon me for breathing if I am wrong but - Birmingham City Council is a hung council, ruled by a Tory/LibDem coalition.
It was Labour led until 2004, so the culture of the welfare staff have a good incubation under labour and even now have a good chunk of lefty libdem influence.
For 'balance' - the Vulnerable Children Committee has a Conservative Chairman, LibDem Vice, plus 5 other Tories and 3 each Labour LibDem. Go figure. I reckon they need to pull their finger out.
In terms of other oversight Birmingham have 9 labour 1 lib dem and 1 conservative - the logic of what the Brummie electorate need to do is clear to me.
When your in a hole stop digging unless it is to Burn Brown like Hitler!
http://delivernothinglabourparty.blogspot.com/
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