As Boris Johnson pointed out in his fantastic campaign speech in Richmond, the UK is on the verge of bankruptcy. The credit crunch was caused by two things: investment in sub-prime mortgages in the US, as shown in the movie Margin Call (Gordon allowed our banks to invest in those same mortgages), and the lavish and manic spending of Labour’s Gordon Brown. When Ed Balls brushes it off as “down to world conditions” he is not telling the truth.
We are now up the creek without a paddle. It is not all hopeless, if we elect a responsible Mayor who understands the economy. If we elect a Mayor like Ken, who is economically illerate, disaster will befall this City. Ken claims not to understand his own accounts and chronically mishandled the City Hall budget when he was Mayor. (links from City Hall records.) He misspent so badly, he was censured by the Forensic Audit Panel who investigated.
When everyone is finding it tough, it is tempting to believe that Ken’s election bribes, totalling an extra £3 billion are possible, but as Boris said, he doubts that Ken will even consider carrying them out in the unlikely event that his feet end up under the Mayoral desk.
Boris has been proved to be a prudent Mayor, who has had the initiative and enterprise to raise funding from the City for the Boris bikes and projects like the cable car, totalling over £250 million. He saved us that sum from the public purse. Ken raised not a penny piece when he was Mayor, but misspent “tens of millions”. Ken changed the rules of City Hall to give his pals a £1.6MM payout. Boris concentrated on investment and cutting down waste.
No Mayoral candidate but Boris has had the honesty to talk about the credit crunch in their election pitch. They have soothed voters with promises to spend spend spend, knowing that is not really helping people. Talk about the “never never” land! They are following wonga economics .
The only possible choice for Mayor is Boris Johnson.