Politics – The Papers React to the News of the Economy and its Current Woes

Osborne “Savaged” over his handling of the economy

Poor old George. There he was a few short weeks ago boasting that under his management we had the fastest growing economy in the developed world. Even if it was true then it is not now and the papers have told him so.

The guardian talked of a blow to the Tories’ strategy of using a resurgent economy as the “springboard” for the general election campaign. It said “Data from the [Office for National Statistics] added spice to the political battle over economic competence when it said gross domestic product per head – one measure of living standards – was rising but the 0.6% increase in the third quarter still left the measure 1.8% below its pre-recession peak.”

Even the Telegraph got in on the act pointing out that net disposable income was static including a pointed cartoon at George’s expense. It then went on to blame those pesky Europeans (nothing changes).

The Daily Mirror spoke to David Blanchflower, who was an economist at the Bank of England. He said that the results on the economy may George “look like a buffoon”.

The savaging came from Danny Alexander the Lib Dem chief secretary to the Treasury. He complained that £60bn of the spending cuts demanded by George are unnecessary, some of us would argue that they are ideology driven. He said “The Tory agenda to keep reducing public spending beyond what is necessary would result in the wilful destruction of important parts of our public services. That is not appropriate or right for this country.”
What happens when your claim to be the only party that can run the economy falls apart?

Tags: George Osborne, Tory Party