The Potemkin Chancellor might be found out now that he is Prime Minister
Gordon Brown’s detractors have long argued that he deserves to be ranked not among Scotland’s economic geniuses but alongside its most notorious confidence tricksters. His great achievement as Chancellor was not to build a great economy, but to create the unshakeable impression that he had done so. He has succeeded, brilliantly, in claiming credit for the economic growth and lower interest rates which — in fact — were common to most developed economies over the same period. Yet he is no more directly responsible for these economic blessings than the conman Arthur Ferguson was for Big Ben (which he ‘sold’ for £1,000 in 1924).
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mike
December 14th, 2007 1:35amInteresting article Mr Fraser; I notice in your penultimate paragraph you use the expression 'a May 2010 election'; indeed as you suggest there will be no General election at that time, as we have already had the last one we will be allowed in this country. The next 'election' will be to send regional representatives to the new soviet style euro-parliament. Our British Parliament and our British democracy is now finished. The betrayal is now nearly complete. What surprises me is how few people seem to realise this.
salvatore
December 14th, 2007 8:07amYes, I agree, but will someone please ask and then continually repeat a simple question to Brown Balls Smith Cooper and Harman etc, whenever things seem to have gone wrong.
Who is accountable, and what transparent measures or targets were put in place to ensure their accountability.
The more frequently the question is asked, and evaded, the more the governments incompetence will become apparent.
Its repetition could become the drumbeat of serious political change.
Herbert Thornton
December 16th, 2007 5:14pmA thoughtful article, but I have difficulty with the statement that the flow of immigrants has "patched over many problems".
The first 'problem' that he lists - that "without immigrants this year would be the first in recorded British history during which most children were born outside marriage" is hardly a phenomenon that can be called a problem. Without the immigrants the little bastards would at least all be British, and surely that would not be a problem, but rather the opposite?
In the same way, whatever would be wrong with London's birth rate being half what it now is? Britain is over-populated and a halving of the birth rate would be a very good thing too.
As for the absence of immigrants making Brown's record on job creation worse than Thatcher's - so what?
R Mason
December 17th, 2007 9:12pmTax cuts are important but there is a lot that can be acheived by tax simplification. Whilst I do not expect a flat tax straight off working towards one is a very good idea. Measures could include: Increasing the personal allowance to a rate that enabled the abolition of the 10% rate. The idea being that able bodied people should get their income from work rather than benefits. Abolish NI. Give a pension for all, non-means tested but added to income for tax purposes paid for by abolishing tax relief over 22% but reducing the top rate of tax if necessary to compensate. All income, earned, savings and dividends to be taxed at the same rate. That'll do for now.
Dennis Ambler
December 18th, 2007 8:23pmMeasures could include: Increasing the personal allowance to a rate that enabled the abolition of the 10% rate. Didn't Gordon, (sorry, Alistair), already do that?
ybin
December 28th, 2007 3:50pmI hope this does not sound too frivolous. But Mr. Nelson, i think you are hot!!!!
Adam Hierionimous Smith
January 4th, 2008 8:26pmHerb-you are the man!Mr Fraser's article really fails to challenge the current shibolleths in regard to the purported benefits of immigration and is much the poorer for failing to do so.
London Liberal
January 6th, 2008 7:40pmIntriguing article Fraser.Well done,but open to the charge of articulating some obvious pounts.Did you sound any warnings about the excessive growth of credit or spiralling house prices around 2002-2005? Did any politicians sound these warnings or are we all wise after the event?.Hindsight is wonderful.