Tuesday, 18 November 2014

Cameron: How to solve crisis? MORE austerity


Conrad Landin in the Morning Star

TORY premier David Cameron urged Britons to back his toxic economic plans yesterday — insisting that only more austerity could save us from another worldwide downturn.

But economists, opposition politicians and even former Conservative PM John Major queued up to tell Mr Cameron it was time to give up on his failed dogma.

After jetting back from the G20 summit of world leaders in Brisbane, Australia, Mr Cameron gloated that a plan cobbled together with the likes of Barack Obama and Vladimir Putin would boost the world economy by £1.3 trillion.

And he used a newspaper puff piece to claim Britain was leading the way.

The British economy had “record numbers of new businesses, the largest ever annual fall in unemployment, and employment up 1.75 million in four years,” Mr Cameron said.

“But the reality is, in our interconnected world, wider problems in the global economy pose a real risk to our recovery at home,” he wrote in the Guardian.

“We cannot insulate ourselves completely, but we must do all we can to protect ourselves from a global downturn.”

He spun out other issues discussed on his schmoozing minibreak, such as the Ebola crisis and the growth of Islamic State terror, into a web of woes he claimed only a Tory government could solve.

“By sticking to our long-term plan at home and standing up for Britain’s interests abroad, we will do everything possible to protect our economy and give hardworking families a secure future in a Britain they are proud to call home,” he said.

But Left Economics Advisory Panel convenor Andrew Fisher hit back: “You have to admire the self-delusion of our Prime Minister, living in a world in which the economic threats to Britain are the eurozone, Ukraine and even Ebola! Anything but the growing misery his austerity is inflicting upon people’s living standards.

“People’s incomes have dropped 8.5 per cent under this government, leaving a million reliant on foodbanks while an unregulated banking sector continues unabated. And what has this pain achieved? A rising deficit that is now the largest in Europe necessitating, in Mr Cameron’s view, even more austerity.”

And in a startling intervention, Tory grandee Mr Major said people were “concerned and worried” that “none of the growth in the economy has yet reached wage packets or salary slips.”

Labour Treasury spokesman Chris Leslie fumed: “David Cameron claims his policies are working, but as even Sir John Major admits, most people still aren’t feeling the recovery.”

He said: “David Cameron should be trying to strengthen growth and make sure working people finally benefit from it, not making excuses for slower growth.”

And forthright Green Party leader Natalie Bennett said: “It is helpful that Mr Cameron has finally noticed the extreme fragility of the global economy, if only belatedly.

“But what’s clear from his remarks is that he’s trying to lay the blame for the failures of his own government in any place but the right one.”

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