Friday 8 July 2011

Osborne's Deep in it Too

Obviously this is a fantastic time to "bury bad news"

Even if unintentional, the News of the World/Murdoch/BSKYB scandal will certainly mean other news is not fully scrutinised at the moment..

Of all the stories however, I don't think we should miss this from http://uk.reuters.com/article/2011/07/07/uk-britain-economy-niesr-idUKTRE7663IC20110707

According to NIESR,

"The economic growth slowed to just 0.1 percent in the second quarter of this year, a leading thinktank said on Thursday, suggesting the recovery has all but ground to a halt."

Now, these are not yet the official figures - they will come later in the month. But they are a projection and if they are anywhere close to reality we are in very big trouble indeed.

That would be 3 quarters of flat growth and the deficit reduction figures will be in terrible trouble.

Q22011 is really the first quarter where we can begin to judge Osborne independently, on decisions he, rather than Alistair Darling, made. It will be incredibly hard for Osborne to bluff through with the wrong kind of snow or Easter boosts.

Whatever we miss in the next few weeks, we must not miss this. It is crucial to everything we do in this country over the next few years and if growth remains this weak, I believe we will start to see calls for more cuts from Osborne - just as we have in other austerity nations such as Portugal, Greece and Ireland.

They don't work and they haven't worked in any of those countries, they've just made things worse. We must be clearly aware that any call for more cuts from Osborne are an admission that his plan is failing. We must seriously question his judgement if the NIESR figure is even close to the truth in the way we are now challenging our media.

If we don't, the phone hacking scandal will start to look like tea party compared to our economic scandal.

5 comments:

  1. He lined up his lame excuse a couple of months back when he got his poodle Nick Boles to tour the broadcast studios and drop into the discussion the unusual amount of bank holidays in Q2.

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  2. Bill Clinton warns against UK's austerity measures.
    From the Telegraph

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  3. You can only cut from the sick and disabled sue only for those that cant fight back when it' comes to the crunch the conservatives know that
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    ReplyDelete
  4. Fourbanks, its getting everyone involved which is going to be an issue, can we think of a way so everyone has a chance to read blog

    ReplyDelete
  5. [QUOTE]Anonymous said...

    Fourbanks, its getting everyone involved which is going to be an issue, can we think of a way so everyone has a chance to read blog[/QUOTE]
    All you can personally do my friend is as i have said above if you know of anyone who is sick or disabled then let them know of this blog

    There is nothing more you can do as the vast majority of the sick and disabled will just suffer in silence
    If sue is making headway in this her blog she needs to get around 50000 hits a week this will still be on the low side but would be classed as very positive in going forward as the blog is only around nine months old so all in all would be seen as a first class effort

    To be a very effective blog she would need around 100000 hits a week as this figure would then go on to double over the next three month period as the word was spreading affectively

    What does tend to happen is that there will be others in society who have their own blogs and that with regret to say is a downside as the sick and disabled will be participating in another blog thinking that's the best one to be in when in reality it's not and overall the whole message of what we are trying to get across to the government becomes much weaker

    To me this blog is the very best and i am a subscriber to over 100 so it would be prudent to focus on this blog where possible

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    ReplyDelete