Will Hutton has got this right tonight:
Osborne must [now] abandon three false economic tenets. The public sector does not always crowd out the private sector; public debt is not axiomatically bad and raising taxes is not more economically harmful than cutting spending.
I agree.
But we're a long way from Osborne realising. And that's the problem.
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Will is right, but there is no chance of Osborne ever abandoning these false economic tenets, which must be in the all time top 10 greatest lie list. He surrounds himself with people that are so blinded by dogma that they truly believe these lies are fact.
You only need to look at the US to see where these lies will take the UK.
If he ever did realise would he even care? I do think that he’s a ‘true believer’ in all this rubbish but even without belief he’d still be ideologically predisposed towards crushing the welfare state and the legacy of social democracy in general. There’s only one way to change the policies: get rid of the Chancellor. The man is not for turning. He’s as pigheadedly ignorant as that other woman.