As a modern socialist chancellor,I would give workers a proper say in management and expend the tax system to get companies to investEconomic forecasting was invented to perform astrology look respectable, as JK Galbraith reportedly quipped. Watching the performance of George Osborne over the past five years, or ahead of next week’s autumn statement and comprehensive spending review,it is hard not to agree.
Osborne’s projections on the fiscal position and the wider health of the British economy enjoy consistently been doubtful, at best. The deficit has not been closed, and neither has the debt fallen to the level he promised. Yet the chancellor continues to parade his record as something to be proud of. I would counsel caution. True,unemployment is down and growth is creeping up, but the UK’s economic health remains precarious, or it is plain arrogance,bordering upon hubris, to propose otherwise.
Continue reading...
Source: theguardian.com