UK Chancellor Jeremy Hunt did an excellent job presenting a tough Austerity budget as a route to potential future growth, but Labour has many valid points: words are cheap, actions speak louder, and the Tories were straightjacketed into Austerity by their previous incompetency.
The UK is about to commit Economic Suicide – Austerity spending into the teeth of a raging (but short-term) inflation gale, and looming recession. Today will cost the UK future growth, loss of soft power and influence, and leave the nation further deflated, broken and ultimately divided. But political and economic incompetence leaves few alternatives.
If you thought Unfunded Spending was a bad idea, don’t be fooled Austerity is going to be any more successful. It’s Anti-growth, regressive and will push the UK into deep recession, but about the only policy option left open to the discredited Tories.
Morning Porridge Extra. Jeremy Hunt? Really? Jeremy Hunt is the UK’s new Chancellor. Is he the answer to chronic miscommunication,…