Is George Osborne up to the job?

[Gromit]

After more disappointing figures on growth (or lack of it) there is evidence that the Government's plan to grow our way to balance the budget is not working.

// George Osborne will face increased criticism that his efforts to rein in the budget deficit through a £110bn austerity package of spending cuts and tax increases threatens the UK's fragile recovery from recession.

Consumer spending is in the doldrums as people see inflation outpace their pay increases, meaning they are experiencing effective pay cuts. Businesses are in better shape, but are proving reluctant to spend the cash pile they are sitting on amid the uncertainties about the UK recovery and the global economy.
Prolonged weak growth also poses risks to Mr Osborne's goal of erasing the deficit, which stood at around 10pc last year, as tax receipts fall and spending on social security goes up.

That is why weak growth is also putting Britain's precious AAA sovereign credit rating at risk, according to experts. //

http://www.telegraph....ubts-over-Plan-A.html

Time for Osborne to go?

[jno]

he's certainly a great talent scout; think Andy Coulson.

[jake-the-peg]

I've always said that his only real qualification for the role was being at Oxford with Cameron.

Some cabinet jobs can be a suitable reward for loyalty, I'm sure he could be Home Secretary or take on the MOD, but not the treasury.

There won't be a reshuffle now it would look to much like bowing to the press and with the Murdoch thing still waiting in the wings they'd be accused of lurching from one crisis to another.

I can't see Cameron going to the country with him at number 11, sooner would be better though maybe an autumn reshuffle. If Osbourne gets Home Secretary or Foreign office he can save face

[rojash]

Cameron and Osborne together are just like a couple of enthusiastic teenagers playing "what if?". Unfortunately, they're doing it with real money and real people's lives and jobs.

[Davethedog]

http://www.fleetstree...-gideon.html?spref=tw

I found this funny unlike Osboune.

You can understand him ignoring Milliband etc but when people like the CBI tell you, you have it wrong you would think you would listen wouldn't you?

[jno]

the CBI should be listened to; but they are only one organisation, with their own interests at heart, which are not necessarily the nation's.

[jake-the-peg]

Hang on while I get my crystal ball out.

I see a chinless wonder on TV tonight blaming the economic woes on the "Last Labour Government"

"Please Miss it wasn't me it was him!" gets a bit wearing after more than a year doesn't it?

[ABerrant]

How is the situation any different to previous Governments of the modern era.

I seem to recall a decade of New Labour blaming the previous Tory Government.

The qualification for any Cabinet role is in no way related to experience within the titular field - they are political offices. How else would Gordon Brown, Alistair Darling, Ken Clarke, Geoffrey Howe, Denis Healey, etc., etc. have got to be Chancellor of the Exchequer? We have to go back to 1993 before we find a Chancellor with any knowledge of Economics.

[R1Geezer]

Well he's Warren Buffet compared to Gordon Brown!

If i'm honest most politicians couldn't find their own ar5e with both hands, it's a symptom of the fact we pay peanuts and hence get monkeys. There are some exceptions but generally anyone any good is in the private sector.

[Ankou]

or indeed, walter mitty

[rov1100]

We are facing an uphill battle. Declining stocks of North Sea Oil meaning in this section its a case of negative growth (-1.6 according to your article)

Norway who control the other side of the North Sea made sure the rewards of this oil discovery are saved for future generations. Our profits bypassed the ordinary citizen and landed in the pockets of big business.

[rojash]

"I seem to recall a decade of New Labour blaming the previous Tory Government."
Do you? For What?

[Kakurol]

Did you see that the chief economist at the Office for National Statistics has concluded that a few warm days in April as well as the extra bank holiday are reasons for the low GDP?

http://www.bbc.co.uk/news/business-14290309

Is blaming the weather - the same weather that we have each year - clutching at straws?

[Gromit]

Rov1100

You may be surprised to learn that the recent slump in North Sea Oil Production is artificial and was created due to a tax grab in the budget. Instantly, output levels dropped to their lowest levels since records began. At a time when revenues are desperately needed.

http://www.independen...tax-hike-2290188.html

What is going on?

[rov1100]

Does seem a crazy decision to increase the oil company tax exploration from 20% up to 32% in the budget while at the same time reducing corporation tax.

He did the same with the banks. Putting 2.5% tax on all banks while reducing their corporation tax so nullifying any tax take. No wonder they have upped their bonuses once again.

[rov1100]

Also like you say when an industry such as the oil one is doing so well in providing finance to the exchequer why cut off its head so that it no longer wants to explore. The revenue lost from the oil industry must exceed the new 32% tax imposed on them. Very short sighted decision.

[jno]

Osborne has been busy meeting his bosses

http://www.guardian.c...nternational-election

[BayBoy1]

jake - the- peg , ref chinless wonder .SPOT- ON ,,,