Tuesday, 8 December 2009

The Vision Never Achieved

When the dust has settled long after our memories will be able to recall the two years of financial disaster we have experienced, the country will have literally blown all the money spent by New Labour since 1997.

This is the stark reality we face of the Government's proposed spending cuts, the biggest squeeze on the UK's finances since the 1970s. Instead of a bold Utopian vision of the future we have slumped back into Life on Mars. For all the boldness of the Blairite, New Labour vision and all the 'investment' that went into it over the last 12 years, we will reclaim back every penny under the New New Labour proposals on spending cuts and tax increases to get our finances back below £100bn a year's worth of borrowing by 2014.

During the new years, national debt will rise to over 80% of GDP, the IMF reckons it will be closer to 99%. No matter as it will be just quibbles over how much interest we will pay which is where the cuts and taxes will be aimed. At the peak of borrowing, the estimated interest bill will be £60bn or approximately half the annual budget for the NHS.

The election will this time around be all about which party can pee over a fence higher in terms of sending cuts instead of bold new futures. Instead of shiny new 'It can only get better' and 'Cool Britannia' adverts with catchy songs, it will be all Hovis type dour music and austere themes.

Welcome to Britain under New New Labour - it has been a perfect exercise in how to blow a load of money on nothing and then reclaim every penny back so that we stepped exactly 5 paces forward and the same back.

Nice one. That story should win a few votes and if I hear once more 'It was Tory free market economics' or it was 'sub-prime in America' that caused it all, I think I will throw a brick through the TV. I have had my intelligence insulted far too often by these people - don't let the same happen to you.

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