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Osborne Dropped In It By Economy Expert Friends
DecentLivingWage
Posts: 738 Forumite
Oh dear, it looks as though the very world economists Osborne depended on to come up with his cunning Plan A for the economy have run away and left him to it - high and dry. In the FT today they actually undermined him saying among other things :
“To be clear, no one should be arguing to stabilise debt, much less bring it down, until growth is more solidly entrenched” and
“Borrowing to finance productive infrastructure raises long-run potential growth, ultimately pulling debt ratios lower. We have argued this consistently since the outset of the crisis.” Then they even tell what he should do - return to the old ways!! (a la Ed Balls?)
“We must remember that the choice is not simply between tight-fisted austerity and freewheeling spending. Governments have used a wide range of options over the ages. It is time to return to the toolkit.”
“To be clear, no one should be arguing to stabilise debt, much less bring it down, until growth is more solidly entrenched” and
“Borrowing to finance productive infrastructure raises long-run potential growth, ultimately pulling debt ratios lower. We have argued this consistently since the outset of the crisis.” Then they even tell what he should do - return to the old ways!! (a la Ed Balls?)
“We must remember that the choice is not simply between tight-fisted austerity and freewheeling spending. Governments have used a wide range of options over the ages. It is time to return to the toolkit.”
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