Through the Looking Glass Economics

The news agenda yesterday oscillated between Phil Hammond saying that the Tories had only identified £1.5 billion of cuts and Labour seizing on Cameron’s shift of emphasis saying that there would be no swingeing spending cuts, just a start on cuts in 2010.  Mandelson claimed that the Tories would pull the rug out from under the recovery by cutting £11 billion this year when he himself said only last month that we need to cut £80 billion-a-year within 4 years.  The government is even legislating to that effect.  It is like the Mad Hatter’s Tea Party:

`Have some wine,’ the March Hare said in an encouraging tone.  Alice looked all round the table, but there was nothing on it but tea. `I don’t see any wine,’ she remarked. `There isn’t any,’ said the March Hare.  `Then it wasn’t very civil of you to offer it,’ said Alice angrily.

Meanwhile, back in fiscal reality, Britain is the most indebted nation in the industrialised world.  McKinsey released research yesterday which puts the “billion here, a billion there” political squabbling in perspective.


Have the politicians grasped the magnitude of the deep hole Britain is in? The Tories have publicly identified spending cuts equivalent to less than ¼ of a percent of GDP.  The government is overspending by some hundred times that amount.  This is “through the looking glass” economics.

Alice laughed. “There’s no use trying,” she said: “one can’t believe impossible things.” “I daresay you haven’t had much practice,” said the Queen. “When I was your age, I always did it for half-an-hour a day. Why, sometimes I’ve believed as many as six impossible things before breakfast.”

We can’t go on like this…



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Liam Fox shreds Cameron’s Calais scaremongering:

“Sad and disappointed to see our Prime Minister stoop to this level of scaremongering, especially as he knows the Calais agreement is nothing to do with the EU and agreed between the two govts”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

EX-LABOUR MINISTER COMES OUT FOR BREXIT EX-LABOUR MINISTER COMES OUT FOR BREXIT
EU GOING TO PAY FOR THAT? EU GOING TO PAY FOR THAT?
TORY MPS PAN CAM’S CALAIS SCAREMONGERING TORY MPS PAN CAM’S CALAIS SCAREMONGERING
LEAK: LANSMAN MOCKS “CLUELESS” UNITE CHIEF LEAK: LANSMAN MOCKS “CLUELESS” UNITE CHIEF
CARSWELL: “NOT GOING TO CRITICISE FELLOW EUROSCEPTICS” CARSWELL: “NOT GOING TO CRITICISE FELLOW EUROSCEPTICS”
SUNNY DAYS AHEAD FOR SCRAPBOOK SUNNY DAYS AHEAD FOR SCRAPBOOK
HOW MANY MPS DOES IT TAKE TO CHANGE A SOAP DISPENSER? HOW MANY MPS DOES IT TAKE TO CHANGE A SOAP DISPENSER?
KEN PREDICTS MCDONNELL WILL BE NEXT LABOUR LEADER KEN PREDICTS MCDONNELL WILL BE NEXT LABOUR LEADER
Don’t Criticise Fellow Brexiteers Don’t Criticise Fellow Brexiteers
EU CABINET GUIDE: WHITTO MOVES UP, GOVE TORN EU CABINET GUIDE: WHITTO MOVES UP, GOVE TORN
PROTESTER CHUCKS DILDO AT MINISTER PROTESTER CHUCKS DILDO AT MINISTER
LEAVE 9 POINTS AHEAD SINCE DAVE’S DEAL LEAVE 9 POINTS AHEAD SINCE DAVE’S DEAL
VENEZUELA FORCED TO FLY IN PLANELOADS OF CASH VENEZUELA FORCED TO FLY IN PLANELOADS OF CASH
SILLY SAUSAGE: TORY MP’S COMMONS DOUBLE ENTENDRE SILLY SAUSAGE: TORY MP’S COMMONS DOUBLE ENTENDRE
SRAELI EX-AMBASSADOR ‘LATE NIGHT VISITS’ SCANDAL BREWING SRAELI EX-AMBASSADOR ‘LATE NIGHT VISITS’ SCANDAL BREWING
UKIP WARNS OF RISK OF TURKEY JOINING EU UKIP WARNS OF RISK OF TURKEY JOINING EU
HIGHEST-EARNING MP DIDN’T NOTICE £400,000 INCOME HIGHEST-EARNING MP DIDN’T NOTICE £400,000 INCOME
BORIS’ NEW BALDNESS-BATTLING BARNET BORIS’ NEW BALDNESS-BATTLING BARNET
GUIDO’S FASHION TIPS: GET THE GRASSROOTS OUT UNIFORM GUIDO’S FASHION TIPS: GET THE GRASSROOTS OUT UNIFORM
BORIS AND FARAGE PAN DAVE’S RED CARD BORIS AND FARAGE PAN DAVE’S RED CARD
WHEN CAMERON AND OSBORNE LAUGHED AT A ‘RED CARD’ WHEN CAMERON AND OSBORNE LAUGHED AT A ‘RED CARD’
SADIQ DUCKS CITY AIRPORT ROW SADIQ DUCKS CITY AIRPORT ROW
DIRE POST-DEAL PAPERS FOR PM DIRE POST-DEAL PAPERS FOR PM
FABBERS’ VOMIT-INDUCING EUROPHILES REVEALED FABBERS’ VOMIT-INDUCING EUROPHILES REVEALED
UNION BARON: “ALL THE TORIES ARE AN ABSOLUTE DISGRACE, THEY SHOULD BE TAKEN OUT AND SHOT” UNION BARON: “ALL THE TORIES ARE AN ABSOLUTE DISGRACE, THEY SHOULD BE TAKEN OUT AND SHOT”
STELLA THE ‘HASH SMOKING MOROCCAN TOURIST’ STELLA THE ‘HASH SMOKING MOROCCAN TOURIST’
CORBYN BROTHER’S BIZARRE RESPONSE TO DEATH OF MAN AND 4 YEAR OLD SON: “LOL” CORBYN BROTHER’S BIZARRE RESPONSE TO DEATH OF MAN AND 4 YEAR OLD SON: “LOL”
BORIS: DAVE’S DEAL NOT GOOD ENOUGH BORIS: DAVE’S DEAL NOT GOOD ENOUGH
9 SPECIFIC DEMANDS DAVE WANTED FROM BRUSSELS 9 SPECIFIC DEMANDS DAVE WANTED FROM BRUSSELS