Posts Tagged ‘Savers’

Another Angry Voice Critiques Osborne’s Budget

March 22, 2014

George Osborne predictions

The table of Osborne’s failed predications from Another Angry Voice, illustration just how inaccurate they are.

The Angry Yorkshireman has provided an excellent antidote for the approving hype surrounding Osborne’s ‘business friendly’ ‘worker’s budget’ on Wednesday. Simply entitled ‘Budget 2014: The AAV Analysis’, This succinctly describes it as ‘some pre-election bribes and some myopic tinkering with a fundamentally unstable economic system’. The Angry Yorkshireman begins by comparing Osborne’s figures now, with those he confidently gave at the start the present government. These show just how far from the reality his predications then were, and how the situation now is far, far worse than the optimistic view Osborne then had. This also effectively shows, even if this rest of the Angry One’s article didn’t, just how much worse off everyone now is under the Tories. Except the very rich, of course.

He then examines the immensely harmful effects Osborne’s budget has had on workers, pensioners and savers, before noting the way Osborne increased VAT from 17.5 to 20 per cent. He has a short paragraph stating that Osborne’s budget shows that even more privatisation is on the way, and criticises the way the education system is being sold off to ‘unaccountable pseudo-charities’, who pay their managers massive salaries while paying the actual teaching staff very little. He then critiques the government’s policy towards the banks, which consists in maintaining them, and their massive privileges for senior staff at the expense of the working population, who have to suffer wage restraint and cuts to welfare services.

He then attacks the government’s housing policy. This is the ‘right to buy’ scheme, which will further reduce government stocks of council housing as the government is making sure no more is being built. He then discusses the increases in government funding on flood defences and potholes. this is tacit recognition by the government that their earlier cuts to these services were wrong. However, he believes that for the government now to return some of the money they cut from flood defences after the floods have occurred is an insult to everyone, who had to leave their homes because of them.

He also devotes a paragraph to criticising Osborne’s optimistic and unrealistic economic forecasts in the budget, before concluding that

The only possible conclusion from the headline figures is that Osbornomics has failed in its own terms. The fact that by 2015, Osborne will have borrowed £207 billion more than he claimed he would, yet the economy will be £128 billion smaller too is absolutely damning stuff, but you won’t hear anything about this from the mainstream media.

Many of the measures in the 2014 budget can be seen as the pre-election bribes they are intended as, yet these modest pre-election gains the Tories are providing dwindle into insignificance in comparison to the huge losses the majority of people have suffered since 2010.

Perhaps the most damning thing of all is that in the very same week that the Bank of England admitted that the private banks run a money creation cartel, and a NASA backed study warned that continuation of the neoliberal economic orthodoxy threatens irreversible systemic collapse, the Tory party have once again offered no fundamental reform to the way the economic system works, in favour of shoring up the status quo, and protecting establishment interests.

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