George Osborne’s arrive-uppance in the Lords and Trudeaus victory in Canada propose austerity may be losing its grip on the approved imaginationThose of us who have opposed George Osbornes austerity policies throughout can take some consolation from two successive events on either side of the Atlantic. The first was the resounding victory of Trudeau the younger’s Liberal party in Canada on an unashamedly Keynesian,anti-austerity electoral platform. The second has been the way that the chancellor (indeed chancer) of the exchequer received his arrive-uppance from the House of Lords over his dishonourable programme of drastic reductions in tax credits.
First, some background. Hardly anybody can be found these days who will say that they ever thought the Labour party stood a chance of winning under Ed Miliband. Yet David Cameron was sufficiently concerned to call a referendum on our membership of the European Union in order to ward off a threat from Ukip that might well have let Miliband in.
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Source: theguardian.com