What a joke of an economics correspondent Larry Elliott of The Guardian has become. He splashes that" secre"t Treasury documents reveal that the budget cuts will cost 1.3 million jobs. Shock. Horror. The end of the world is nigh. Nasty Tories. Thatcher. Milk Snatcher.
Then, in the middle of the story, comes this sentence...
The Treasury is assuming that growth in the private sector will create 2.5m jobs in the next five years to compensate for the spending squeeze.
Now, I know that maths is not my strong point, but even I can work out that 2.5-1.3 = +1.2. So explain how that is a rise in unemployment, Larry. You prat.
Either you believe Treasury figures or you don't. If you believe the ones which say 1.3 million jobs will be lost, surely you then believe also the ones which say 2.5 million jobs will be created. Alternatively, you can believe neither. What is inconistent, is to believe the one you want to believe and not the one you find inconvenient to your argument.
UPDATE: For the record, I don't believe the 2.5 million figure either. But even if it's nearly 50% out, there would be no net fall in employment. Oh, and by the way, for any lefty economists reading this, you might like to remember that it's not budgets which create jobs, it's private sector risk taking entrepreneurs. Think on that.