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

Former public schoolboy Chuka Umunna told the  ‘Exit From Brexit Dinner’…

“Remainians, Remoaners, I don’t care what the label is, I’m proud. It’s fashionable to label everyone in this room as the liberal metropolitan elite . . . This caricature is promoted by a bunch of former public schoolboys!” 

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Labour Peddle More Animal Sentience Fake News Labour Peddle More Animal Sentience Fake News
Corbyn Launches Labour Muslim Group Headed By “Israel Has No Right to Exist” Activist Corbyn Launches Labour Muslim Group Headed By “Israel Has No Right to Exist” Activist
Clive Lewis Investigation Dropped Clive Lewis Investigation Dropped
Tories Take Poll Lead Tories Take Poll Lead
Cult of Corbyn – Christmas Edition Cult of Corbyn – Christmas Edition
McDonnell’s Socialism (With Diagram) McDonnell’s Socialism (With Diagram)
Labour’s “Easy Movement” Muddle Labour’s “Easy Movement” Muddle
UK Number One Developed Economy For New Business UK Number One Developed Economy For New Business
Guardian and BBC Fail to Mention Kerslake is Labour Adviser Guardian and BBC Fail to Mention Kerslake is Labour Adviser
Max Clifford Dead Max Clifford Dead
Sunday Show Highlights Sunday Show Highlights
Labour Candidate’s $3000-a-Bottle Champagne Labour Candidate’s $3000-a-Bottle Champagne
Khan Gets Brexit-Bashing Corbynistas To Write His ‘Independent’ Impact Papers Khan Gets Brexit-Bashing Corbynistas To Write His ‘Independent’ Impact Papers
BuzzFeed Redundancies Doubled BuzzFeed Redundancies Doubled
WATCH: Barnier Shuts Down Remainers’ Single Market Fantasy WATCH: Barnier Shuts Down Remainers’ Single Market Fantasy
Brexit Bill £35-39 Billion: What the Papers Said Brexit Bill £35-39 Billion: What the Papers Said
Senior Brexiteers Back Deal Senior Brexiteers Back Deal
Mail’s Epic Guardian Burn Mail’s Epic Guardian Burn
Deal Done: Read in Full Deal Done: Read in Full
Watch: Moment May and Juncker Announce Deal Watch: Moment May and Juncker Announce Deal