Monday, June 22, 2009

We’re on negative watch

Britain's credit rating is on the danger list – and so is Gordon Brown's credibility

It was a time when the media was ­obsessed with duck ponds, moats and flipped houses, so the announcement on 21 May that the credit rating agency Standard & Poor's had put the UK on negative watch received less attention than it might have done. It certainly does not seem to have penetrated the brain of the prime minister, who wants to fight the next election on the basis of Labour investment against indiscriminate Conservative spending cuts.

Posted by quiet guy @ 09:10 AM (874 views)
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2 thoughts on “We’re on negative watch

  • Interesting to see the Guardian criticising Crash Gordon’s record and actions.

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  • The Guardian have had quite a few pops at Labour. Brown was essentially the driver of the bubble in the expansionary policies of before. He now finds himself in the position of glaring limelight. He will have to admit that cuts are needed – a task too large for Gordon Brown to do publicly.

    So it will be that we get a new Conservative Government, and as well as cuts, they will also have to get rid of some of the inefficiency that pouring money at problems has created. See the NHS and other areas for examples…

    This will come back to downward pressure on house prices. And this is what the economics books will tell in 20 years time. The UKs love of the house price index is its Achilles’ heel. And the expenses issue has highlighted that politicians also catch the house price virus and lose objectivity jsut as everyone else.

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