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

Gavin Williamson overheard in Brussels…

 “What’s the point of listening to French politicians?”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
No Facebook Engagement Drop Off Seen Here No Facebook Engagement Drop Off Seen Here
Adonis Tipped to Set Up Centrist Party and Be “British Macron” Adonis Tipped to Set Up Centrist Party and Be “British Macron”
Corbyn’s New Anti-Racism Campaign Star Sent N-Word, “Jew” and Hitler Tweets Corbyn’s New Anti-Racism Campaign Star Sent N-Word, “Jew” and Hitler Tweets
Corbynistas Openly Using McDonnell’s IRA Nickname Corbynistas Openly Using McDonnell’s IRA Nickname
Standard Deliveroo Love-In Standard Deliveroo Love-In
Gotcha! Commie Corbyn Gotcha! Commie Corbyn
Oxfam Failed to Ban Staff Using Prostitutes Because of “Civil Liberties” Oxfam Failed to Ban Staff Using Prostitutes Because of “Civil Liberties”
Labour MP to Voter: “P*ss Off” Labour MP to Voter: “P*ss Off”
EXCLUSIVE: May’s Chief of Staff in Late Night Porn Shocker EXCLUSIVE: May’s Chief of Staff in Late Night Porn Shocker
Equalities Commission Slams Labour… Again Equalities Commission Slams Labour… Again
Tory MP Plans to (Le)Go Big Online Tory MP Plans to (Le)Go Big Online
Terror Cops Probe White Powder Sent to Parliament Terror Cops Probe White Powder Sent to Parliament
McDonnell Mocks Labour Compliance Unit McDonnell Mocks Labour Compliance Unit
UKIP Plot to Make Muslim-Bashing Batten Leader UKIP Plot to Make Muslim-Bashing Batten Leader
Sun’s Tom Greatest Tosser in Westminster Sun’s Tom Greatest Tosser in Westminster
Coup Gaffe UKIP Chairman Resigns Coup Gaffe UKIP Chairman Resigns
“Paying for Pleasure” on Oxfam Online Shop “Paying for Pleasure” on Oxfam Online Shop
New SpAd List New SpAd List
Leadsom Contacts Police Over Brexit Death Threat Leadsom Contacts Police Over Brexit Death Threat
Sunday Times’ Shippers v FT’s Spiegel Sunday Times’ Shippers v FT’s Spiegel