George Osborne has taken the measures he clearly believes to be right, but the job is only half done. It is vital now that confidence is sustained, so it needs a master communicator to reassure the country that disaster is not about to strike. (You know who I mean, he always knows how to reassure and explain things. Boris, we need you now!)
Ed Miliband and Alan Johnson have sneered at David Cameron, because in the past, at times, he was supportive of the economic measures taken by Gordon Brown. Yesterday, Ed ratcheted up the anxiety by talking of a “sleepwalking catastrophe” when George has never looked more certain or wide awake in his life! Does it occur to Ed and Alan that David Cameron was adopting this attitude, abandoning partisanship, for the sake of his country? Such farsighted unselfishness is obviously beyond the two of them.
Ed and Alan, it is crystal clear that neither of you have the faintest idea what to offer in terms of a Plan B to rescue the country’s finances. Cravenly and unpatriotically, you are falling back on a “nasty Tories, just being ideological” position, because you have neither the brains nor the imagination to come up with anything else. This is particularly reprehensible, because it was your lot who created the mess in the first place.
It is crucial to maintain confidence economically, and for people to be reassured, so a general panic does not ensue, and this is the most unselfish thing you could possibly do for the UK at the moment, while the general public are clearly feeling vulnerable. Are you men enough, and compassionate enough and unselfish enough to do this? If so, you would earn our respect. A city analysis of George’s measures is here.
BREAKING NEWS ON SKY: Better than expected growth figures in the latest quarter. Alan Johnson on SKY was still moaning though. He was stumbling over his words, Alan, you are a nice guy. I am a duffer on economic matters too, but I would never presume to go for the job of Chancellor. Get some therapy.
UPDATE: City AM reported today: “SECRET MEMO PUTS LABOUR ON BACK FOOT OVER ECONOMY
Labour has admitted that its economic policy lacks substance and detail, according to a strategy paper seen by The Times. The memo, written before Osborne’s spending review, shows that Ed Miliband was warned that the coalition’s cuts to public spending may not be much deeper than those proposed by Alistair Darling.