Friday, January 08, 2010

Outstanding opposition onslaught...

'Today finally saw a day's debate in the Commons on the Pre-Budget Report.'

"There is a fact here that we must all face: whoever is in government after the next general election will have to cut public spending... The fact is that this Government are being driven not by the needs of the economy and the medium and long-term best interests of the British people, but by the needs of the Labour party and the insistence of the Prime Minister and the Schools Secretary that the scale of the fiscal problem, the challenge of dealing with it and the true price of not dealing with it are to be concealed at all costs from the British public until after polling day. No price is too high to pay, provided the bill does not arrive until 7 May. No burden is too heavy to bear if it is the Prime Minister’s successor who will bear it.

"That is the most systematically reckless, cynical and dishonest strategy for dealing with a fiscal crisis that anyone in the House will be able to recall."

From Conservative Home quoting Shadow Chief Secretary Philip Hammond's speech today.

And was the "coup" to dethrone Brown a storm in a teacup on a good day to bury bad news? Who knows; seems a risky thing to do judging by the public's verdict of split political parties but I wouldn't put it past the corrupt, lying, pathetic toads.

And THIS needs shouting from the roof tops! "Gordon Brown looks like a Presbyterian but spends like a desperate gambler. He must be stopped before it’s too late"

So does an excellent blogpost from Burning our Money (need shouting from the rooftops):

For the last year, HMG has funded its humongous borrowing requirement by having its wholly owned subsidiary, the Bank of England, buy up a corresponding quantity of gilts in the open market. The subsidiary has funded these purchases by the simple expedient of printing money. The process has ensured that HMG's borrowing has not undermined the market price of gilts. Which in turn means that HMG has been able to borrow at historically low interest rates.

Unfortunately, this terrific scam is now coming to an end...

And those UK government bonds (gilts) are about to lose their biggest buyer...[Link].

Interestingly the gilts and the prebudget debate articles are connected not only by Brownstuff but by two brothers: Balls.

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Paul said...

Oh yes, it will all end in tears.

But whose?

Span Ows said...

Well we can be sure it will not be the tears of the bankers, politicians or those reaping the share benefits with free money.