Clegg adheres to the script on deficit reduction
What a curious speech by Nick Clegg to the CBI last night. Curious, not because it was bad — but because, in straining to give a uniquely “liberal” justification for deficit reduction and the spending cuts, the Deputy Prime Minister actually crafted an address that most Tory ministers should, and would, deliver themselves. Take his “liberal analysis” of the last decade: “On a liberal analysis, the last decade represented the worst of all worlds. On the one hand: unchecked private debt; an unsustainable housing market; an overleveraged banking sector; overreliance on City-based financial services while other regions and sectors suffered neglect. On the other: an inefficient state; central government wasting
