And the award for the most ironic photo of the PBR goes to….
(taken yesterday on Tottenham Court Road in central London)
“We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists.”
- James Callaghan, at the Labour Party conference in 1976
[...] Letters From A Tory gives out far more prestigious (and amusing) awards than me… [...]
Wonderful!
That pic (or a very similar one) was on the front page of The Metro. Brilliant.
It’s a beauty, isn’t it.
I think Brown and Darling know that what Callaghan said is still the case, but the pbr was about the election not the economy.
The photo has now made it to the <a href=”http://news.bbc.co.uk/1/hi/uk_politics/default.stm”BBC Political News front page…
(as of 2:18 pm 25/11)
The PBR was certainly about the election and little else. As I said in my letter to Alistair Darling yesterday, it was a political stimulus package, not an economic one.
Oh God, it is just like the 70s. As the power generators gradually go out and we move towards scheduled blackouts, which will no doubt please our new Green Overlords greatly, it will be just like the 70s: massive Public Sector with strong unions, a dead economy, entrepreneurialism becomes unknown….
The bigger questions is can CallMeDave be an economic Thatcher and, more worryingly, can the country take that kind of medicine a 2nd time?