Wednesday, 20 October 2010

Not all the bankers fault...

Excellent blog from George Kendall today on the Lib Dem voice (link) which I think in many ways adds to my points regarding Labours mismanagement of the economy during our economic boom years.  He makes his points much more eloquently than myself, in particular there is the encouragement of the housing bubble following the bubble bursting which I had previously neglected to mention.

Over all I fear that despite the huge spending review today we will not be in a situation where we will have a budget surplus (and therefore able to pay back our debt rather than reissuing it) for the foreseeable future.  This means our interest payments will only go one way, though much slower than if this had been left to Labour.

I hope that the figures quoted today by Mr Osbourne are correct and that despite a reduction in the head count of public sector workers over the next four years unemployment will fall.  If it doesn't fall then our immediate economic future is fairly bleak and a lot of people will be left in very difficult situations.

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