Is George Osborne failing … or succeeding brilliantly?

Think Left

Is George Osborne failing … or succeeding brilliantly?

Obviously the answer depends entirely on what are George Osborne’s actual intentions?

We are led to believe by government and commentators in the mainstream media that George is trying to ‘re-balance’ the economy, eliminate the deficit by 2017 (sorry 2018!) and create the conditions for the private sector to grow and export the UK out of recession/depression. He and David Cameron tell us that fiscal austerity or expansionary fiscal contraction, is showing signs of working and anyway, there is no alternative (TINA).

However Martin Wolf, the distinguished FT journalist, describes Cameron’s arguments for sticking to the government’s programme of fiscal austerity as ‘overwhelmingly wrong-headed’. (1)

Duncan Weldon quotes the FT leader ahead of the Budget and writes:

FT leader ahead of the Budget opens by stating:

More than halfway through the UK coalition’s term of office, the British economy is…

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