George Osborn’s justification for the The Conservative led government’s disastrous austerity strategy was that it was ‘imperative’ for the Country’s economic stability to maintain a Triple-A status in the financial markets, and that his Plan A was ‘essential’ and would do just that. He lied.
Cameron and Osborn took over the running of the economy and said that it was in perilous state due to the sheer incompetence and negligence by the Labour administration, despite the truth that the cause was a worldwide banking crisis. They lied. In 2010 the Country had though come out of recession and growth had been rekindled. Three years later-on, after ‘proper management’ by the two arrogant posh boys, the Country has suffered a double dip recession, is now facing the likelihood of a third recession, and despite repeated reminders from them that the economy is on the right track now, the Triple-A rating is down the pan. How do the two muppets explain that then? Well, anyone can see that they lied. The fact is that we are in an unavoidable descent into the abyss and their legacy will be a decade of economic troubles, strife, and abject failure.
Twenty years ago the Conservatives brought us Black Wednesday, when they failed to handle a sterling crisis and Britain had the ignominy of being forced to withdraw from the ERM – all at a cost of at least £3.3billion, but it might be many times that, we don’t know; the sting in the tail is that the devaluation loss could have been avoided and turned into a gain! It has been one of the Country’s major economic disasters and it resulted in the Tory’s biggest electoral defeat ever in 1997, and history could repeat itself at the next election (with the LibDems going down with the stricken ship). However, who was the Special Advisor to Chancellor Norman Lamont at that dreadful time, but David Cameron of course.
It is unlikely that the stripping and loss of the Triple-A will really impact us, if other country’s experience recently is anything to go by (and only Germany & Canada retain that status) – the markets had already sussed out the bleak future for this country. But what is George’s Osborn’s response to the second-rate humiliating news – one of contriteness? Not likely. Same medicine, same result, killing us.
The current government scenario is reminiscent of the ill fated Charge of the Light Brigade with Osborn playing the part of Lord Cardigan and charging off in completely the wrong direction, oblivious to the death and destruction he was causing around him; and Cameron in the role of Lord Lucan who issued the totally wrong order in the first place.
The answer is to give Osborn what he has always needed to fit in, and overcome the wallpaper birthright tag, and become a true Lord (and fit for Tory infamy as the Triple-A demolisher), and for Cameron to fall on his sword to become the first politician ever to accede to the will of the people.