Clear the bar!

alittleecon.wordpress.com/2015/10/27/obr-shows-how-austerity-killed-growth/

An interesting article about the OBR, which shows that Osbornomics killed off growth, whereas the Brown government promoted growth.

Brown was the worst ever PM we have had for a long time.

Djen, haven't you noticed yet that anyone can produce figures via links to prove just about anything! Except it doesn't prove it.

Yes but it gives people the opportunity to read them and make up their own mind. I'm sure than jen is quite aware that figures can be manipulated and that parties on both sides do it.

Mind you Osborne is doing well in the who is the worse Chancellor stakes.

Remember the omnishambles of his pasty budget, a Tory minister is now describing this latest effort as a single shambles. But looking at his record to date well
The deficit - supposed to have been eliminated by this year FAILED
Debt - added to it since he took office and more in total than ALL the Labour Governments combined FAILED
Growth - weakest in decades and getting weaker FAILED.

Osborne is clearly not an economist, but likes to think of himself as a clever political tactician. Not that clever though as no-one has bought the stupid argument that if tax credits are cut, then wages will rise!
The Tories spent the first term spinning to the "hard working families" that we can cut benefits to those shirkers out of work and asleep, as the working poor struggle to work hard to feed their families and how grossly unfair it is. Lo and behold!!! What are they doing this term? Why penalising the working poor of course telling them not to worry as wages will rise as their income is cut.As Owen Jones argues "tax credits represent a subsidy for low pay, and the whole point is that if wages rise than tax credits will automatically fall"
It is embarrassingly disingenuous nonsense to argue the opposite.

And he is still going on about how the rise in the minimum wage will help everyone who is having their tax credits cut, even though many of them earn more than the minimum wage already.
Just seen an advert for four people to work in HMRC, for no pay.

Roses, the article was about OBR figures, produced by the OBR, a body set up by Osborne to make sure that the government is doing things properly.
They are figures that Osborne has not spoken about, as the OBR more often than not, these days, dispute Osborne's claims. A shame, really, for Osborne. He thought he had put in a group of yes-men. They know he is rubbish at economics, just like Whitewave says.
What the chart does show is that Labour were doing okay with the economy after the banking meltdown. When the Tories came in, they were not to be trusted with the economy.

www.taxresearch.org.uk/Blog/2015/10/28/growth-is-running-at-half-of-last-years-rate/

The latest growth figures.
Up to you whether you read the link or not, roses.

Not.

Voters did not trust Labour with the economy twice now!

Just because the Tories got this tax credits bill wrong, doesn't mean they get everything wrong, far from it. all political parties get certain things wrong.

We are not talking about Labour but about useless Osborne.

If the sainted Jeremy ever gets into power, there will be quite a lot that he gets wrong.

It would be McDonnell, though, pulling his strings and playing fast and loose with the economy.

Useless? I don't think that is the right word, you appear to hate him whitewave so that flavours your posts on him.I neither like or dislike him so can be objective. He got this tax credits bill wrong, and will have to put together a new package now, which is good, but that does not mean that sometimes, he can be an effective Chancellor.

Osborne has got more wrong than tax credits, such as Deficit, debt, and poor growth. He also promised to balance the economy and has spectacularly failed in that. All pretty fundamental I think.

rosesarered the Tories didn't get the Tax credit bill "wrong", they introduced something they had promised that they would not do. Many people voted for them because of what DC said before the election.

No I don't hate him, I don't know him, but I do think his performance as a chancellor is useless.

I don't think that many people voted for the Conservatives because of anything DC said before the election on tax credits.

I only did O'level economics but even I can work out a likely reason for the drop in growth. If people think they are going to be worse off, lose their jobs, have to help their grown children etc., etc., then they will pull their belts in. Just little things like not buying a new coat this winter, doing your own hair instead of going to the hairdressers, making last year's boots last another winter.....it all adds up to a drop in spending and a drop in growth. I note that Osbourne was blaming Liberal and Labour Peers for shafting him, didnt mention the Tory Peers though. I look forward to Question Time tonight, I hope they have got some good guests on the panel.

Labour would have said the same, also the Lib Dems.

Cameron still won't Say whether the poor will be worse off in April. JC asked him 6 times in pmqs so we can probably assume at this stage that they will
Be

He probably can't commit himself as neither he nor GO is sure yet how this mess is going to be sorted out!

After all, DC wouldn't want to be accused of lying again, would he?

George Osbourne and David Cameron are two of the cleverest men in England. This is according to Vince Cable, when he was interviewed a week or two ago. I imagine he should know having worked alongside them both in coalition, and must believe this as obviously now he has no reason to offer any support. A sound economy is vital to the successful running of any country as without this none of us can thrive except the very wealthy. Let's hope this debacle will lead to a total reform of the HOL, perhaps starting with every member having to actually work all day on the days they claim their £300 of tax payers money, and not receive it for just turning up, signing in, and buzzing off, which is a disgrace, and they all do it!!! Just thought I'd mention it in passing.