Gordon Brown is about to sell some government assets to presumably bring down the amount it is borrowing and reduce the debt repayments. This was inevitable, although I am sure the prime minister will hail this as responsible government, making the tough choices, etc.
What we need here is some perspective. Iain Dale commented on this yesterday and aptly reminded us that in August government borrowing was £16.1 billion. Therefore the £16 billion raised from selling assets will pay for August. The mess the country's finances are in cannot be underestimated. Recessions come and recessions go. They are part of life. On the other hand, Brown was the man who claimed to have abolished boom and bust. He claimed to be prudent. He claimed to have brought some form of economic miracle to Britain. What we have instead is the usual mess at the fag end of a Labour government. Higher taxes, higher borrowing and a debt mountain needing to be cleared by an incoming government.
At the Labour conference last month, Brown recited his list of achievements. At last week's Conservative conference, William Hague came up with a list of his own. For all the money thrown at public services during the last twelve years the UK has managed to dramatically slip down world league tables in literacy, numeracy and science. We are the worst place in Europe to bring up a child. We have shiny new hospitals that aren't cleaned properly leaving patients with MRSA and C-Diff. Labour has legislated like no other government. Rights and freedoms we take for granted are under threat.
They are just a few examples of Labour's catalogue of failure. What next? A few more billions in asset sales to cover September? What a mess.
2 comments:
Brown seems to like selling off English assets. I wonder whether the money raised from the Dartford Crossing will be ring-fenced for England?
I notice that he's not selling off any Scottish toll crossings.
herefore the £16 billion raised from selling assets will pay for August
Frightening - so far in.
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