The budget that George Osbourne presented last week was not particular brave, considering the electoral cycle. Far from being the orgy of cuts that Ed "Edward" Miliband suggested, the fact is that the UK deficit will continue to rise, and the total level of indebtedness is unlikely to fall much, if at all for several years. The gap between the spending programme proposed by Labour last May and the Coalition this March is really pretty small. However this has not prevented Labour -rather foolishly- from hitching itself to a "No cuts" band wagon. The resulting juxtaposition of Ed "Edward" Miliband's speech with a serious riot by extremists was unfortunate, but sadly all too predictable. Miliband -again- demonstrated a lack of judgment that is becoming characteristic of his leadership. Labour has abandoned any sense of economic reality, if they now truly believe that there is any chance of recovering economic stability without bringing the deficit under c...
Musings on World events from the perspective of a Social and an Economic Liberal.