Is Osborne right to warn about sterling now?
So, George Osborne’s unveiled his new line of attack on the Government – warning that, in light of sterling’s recent plunge, Brown’s addiction to debt could trigger a run on the pound. It’s a prognosis not entirely without basis, but is now the right time to make it, politically? After all, the trends aren’t currently heading in the direction of the Shadow Chancellor’s worst-case scenario, and the devaluation of sterling could even result in a few benefits. Gary Duncan puts it best in today’s Times: “How much does any of this really matter? There are two main dangers. First, as Mr Osborne argues, a weak pound that makes it even
