Thursday, March 25, 2010

Quote of the Day

In many senses, this will be a good election to lose. The ravine twixt government expenditure and income is so wide, and the push needed to close the gap so strenuous and painful, that both major parties have decided to leave the kiddies believing in Santa's little Lapland workshop, with its busy elves.

Why make them unhappy at their tender age ?

Martin Wolf in the FT.

The government bears substantial responsibility for the vulnerability of the economy and public finances and is, even now, relying on optimistic assumptions. It is not providing the fiscal insurance needed against worse outcomes. It is obvious why the government has made that choice: it does not want to frighten the horses. But the horses – the British electorate – are deluded. Since the economy is substantially smaller than expected, the size of the state has to follow. The question is how and when...

Letting the electorate into the know is – most politicians agree – not what politics is about. In such a crisis, that is more than a pity; it is a disgrace.

1 comment:

Sgt Troy said...

Department budgets 'could be slashed by a quarter'

The IFS is an indespensible guide to regime financial representations; they have to do the number crunching before it makes any sense.

In the longer term national interest it might be as well for Zanu to have a bit of a go at clearing up their own mess - and fall flat on their crass faces

UKIP are talking some sense - I hadn't thought much of them under City wide-boy Farage.

But Pearson has some serious quality. His comments on Islam were very much to the point; chopping EU expenditure and foreign aid has to be done, as they say - and I like the proposal to increase the army by a quarter.

Ancien Regime bankruptcy looms and we will surely need some sort of insurgency. Perhaps that of enraged cider drinkers carrying aloft the head of Malcolm Gluck before

The Cornishmen were formidable during the civil war.

Beyond that there's going to have to be a coup with military backing - it's all too skint and destabilised for anything else.