By George!

  oresome 19:07 17 Nov 2008

Should politicians tell it as it is?

George Osbornes is in hot water again for talking down the pound. It's claimed that there's an unwritten rule amongst politicians that this isn't done.

Mr Osborne defended his remarks against accusations that he was talking down sterling by saying "My job... is to tell the British people the truth about the British economy."

There you have it........the words truth and politician in the same post!

I can't help but think that George is being outflanked at the moment. He talks about mere domestic policy whilst our leader is into global solutions. A boy in short trousers was how he was described by one journalist.

  lofty29 19:30 17 Nov 2008

I am not a fan of " call me dave", but in this case he was being more honest than the great messiah, and domestic policy should concern everone in this country, we are the ones who are going to pick up the bill at the end of the day. And remember that bill will fall due after the next election.

  sunnystaines 19:30 17 Nov 2008

The Labour party has urgenty got to rein in brown and darling re this mad borrowing with cutbacks otherwise the country will be knackered for generations with a point of no foreseeable recovery like some 3rd world nations have been in and needed others to wipe the debt for them to survive.

I was in the back today and the euro was down to a mere 1.10 to the £ and the dollar only $1.30 to the pound

  sunnystaines 19:32 17 Nov 2008

the xmas payout to most will be spent on booze, fags, and KFC's etc the Govt best keeping it to help re our debts.

  laurie53 21:23 17 Nov 2008

The trouble is that politicians of his stature (which isn't much here, but is regarded as pretty high abroad) are widely reported outside the country when they make these remarks, thereby exacerbating an already poor situation.

If he'd said that pepper imports were dropping you can bet your life there'd have been a run on pepper, that's the way of things I'm afraid.

  natdoor 22:00 17 Nov 2008

The rason the pound has fallen is because of the disproportionate contribution made to GDP by financial services, which have now collapsed. This has prompted foreign investors to withdraw their investments in sterling.

With regard to the national debt, following the support to Northern Rock etc. it has almost reached the level it was in 1997 when Labour came to power. This represents a debt in real terms of 20% less than in 1997. Those opposed to Brown's policy should compare what happened in the US following the Wall Street crash (the new deal) and what happened in the UK, where no fiscal stimulus was applied. Perhaps the Jarrow March and the Prince of Wales' visit to Wales have slipped from our memory. It was re-armament triggered' by German re-armament, which eventually turned the UK economy around.

  DieSse 23:23 17 Nov 2008

"George Osbornes is in hot water again for talking down the pound."

The pound had already lost more value than in any crisis since the war, before he even mentioned it! So he can hardly be accused of talking it down thus far.

If anyone thinks an economic crisis caused by too much consumption, borrowing and debt can be cured by boosting consumption, borrowing and debt, they need to seriously worry about their logical faculties.

Now what did James Callaghan (a Labour Prime Minister and Chancellor) say? - Ah yes, now I remember "You can't spend your way out of a recession".

  Stuartli 15:14 18 Nov 2008

It shouldn't be forgotten that Alistair Darling said only a few short weeks ago, before we really knew the full facts and bailed out the banks, that the financial situation was "...the worst in 60 years" - no one accused him then of undermining the pound..:-)

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