Monday, 27 October 2008

Gordon Brown is financially incompetent - Why trust him now?

Gordon Brown - don't trust him with your moneyToday Gordon Brown will announce his plans to increase borrowing and spending in an attempt to reduce some of the fallout from eleven years of his financial incompetence. The plans will be confirmed on Wednesday in Alistair Darling's announcement that he will be re-writing Gordon Brown's Golden rules. In other words the government has failed to meet their own levels of financial responsibility and they are now moving the goal posts. Unfortunately for the country, if such a football pitch existed, the opposing goalkeepers would struggle to see each other on a clear day.

I don't know if these measures will be good or bad for the country, but what I do know is that Gordon Brown is not the man to get us out of the hole he has dug. He will say today:
"We will and can allow borrowing to rise to help restore demand and to come to the aid of workers, businesses and homeowners. "We have already combined targeted support through the tax system - such as the temporary increase in stamp duty thresholds, the freeze in fuel duty and the £120 tax rebate for basic-rate taxpayers - with a commitment to maintain the necessary government investment to enable Britain to benefit from the upturn.

"Through our actions we are both supporting families and businesses now and helping them prepare for the future. That is why the responsible course is to borrow now to maintain growth and output, and to reduce borrowing as a proportion of GDP as the economy recovers and tax receipts rise again."
The last sentence says it all. This is a man who has had over a decade of global stability and financial growth and failed to reduce national debt - in fact he has increased that debt. He is responsible for allowing massive personal debt through poor regulation. Why should we trust him to "reduce borrowing as a proportion of GDP as the economy recovers"? All Gordon Brown knows is TAX, BORROW & SPEND, and when the money runs out he does it all over again. Gordon Brown will never have struggle financially, what does he care about future debt?

2 comments:

Letters From A Tory said...

Anyone who thinks that even more borrowing is sensible, given the disastrous consequences of more borrowing in the past, clearly doesn't understand economics.

curly15 said...

I have something Gordon could borrow from me, what can you lend him?