November 14th, 2008

Gordon’s G20 Plan

Gordon is going to Washington with a few key spin objectives:

  • To present himself as the respected elder statesman of international finance – never mind Sarko’s pretensions.

  • To frame Britain’s problems in an international context. Sterling’s collapse is to be spun as nothing to do with Brown’s bubble.
  • To frame any domestic tax cut U-turn as a co-ordinated international action. This will give him cover for abandoning everything he has told us is important for all his front-bench political life.

Why Gordon thinks it imperative to be portrayed as some kind of respected international finance genius eludes Guido. It won’t save anyone’s job, not even his own.

There is obviously an international angle to the credit crunch, but there are also domestic disasters which happened on his watch.. Sterling’s collapse is not random. Who for instance decided to exclude house prices from the Bank of England’s inflation target which meant we had a ridiculously loose monetary policy?

If the G20 endorses a policy of tax cuts - if – Gordon will have political covering fire to return to Westminster to cut taxes and bugger the deficit. The Pre-Budget Report on Monday week will be his chance to unveil an epic tax-cutting stimulus package U-turn. The Osborne-Letwin* designed response as it stands will be “we shouldn’t be here, you shouldn’t do that”. Preaching fiscal sobriety to the fiscally hungover after the party has finished and the house is already wrecked.

The Tories have boxed themselves into holding to a Brown orthodoxy on tax cuts to which he himself no longer adheres. Time to think outside of the box…

*Letwin’s aversion to tax cuts might have something to do with the 2001 election campaign fiasco when as a junior finance spokesman, he was forced into hiding after disclosing that the Tories had longer-term plans for £20 billion of tax cuts.



Seen Elsewhere

Ruffley Could Be Suspended From Commons | Telegraph
Ruffley Loses Confidence of Constituency | Guardian
Ruffley Under Pressure to Quit | Telegraph
Gove Launches Ruffley Probe | Staggers
Clegg Must Fire David Ward | Sun
David Ruffley’s Campaign Against Domestic Violence | Buzzfeed
LibDem Criticises Clegg Over Farage Debates | Express
Ruffley Must Go | Guardian
Political Correctness Breeds Extremism in Schools | Chris McGovern
Ruffley Faces Crisis Meeting | ITV
I Sang “Maggie Out” (When I Was 7) | Liz Truss


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New Foreign Secretary Philip Hammond has big ambitions in his first meeting with Benjamin Netanyahu today:

“I came to bring this conflict to an end.”



Flight Watch says:

Russia Today is a cauldron of bullsh*t. The only people that take it seriously are deluded conspiracy theorists. Other RT journos have resigned citing the same reasons.

It’s about as believable as Press TV, KCNA of North Korea or the Daily Mirror.


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