A letter a day to number 10. No 1,359
Wednesday 02 March 2016.
Dear Mr Cameron,
I don’t know how many times I have said that ordinary people are the bread basket of the nation, does George Osborne understand this? Probably, but that isn’t what his economic policy is about. His and your ideological austerity isn’t about economic growth, it is about an all out assault on ordinary people which makes no economic sense, but does make perfect ideological sense. Well, if you’re a Tory, that is.
In terms of economic recovery, Osborne has missed every target he has set for Britain’s recovery, that isn’t the fault of the global economy and it certainly isn’t the fault of ordinary people, it is a matter of policy, Osborne’s.
Addressing our weak economic growth, Osborne said at the G20 meeting in Shanghai, “(We) may need to undertake further reductions in spending because this country can only afford what it can afford and we will address that in the budget.” Do you know how much meaningful information is contained in that statement? None.
Osborne likes to patronise us and pretend that a national economy is like a family economy and must live within its means, which is completely absurd. He has access to making money out of thin air, remember the £375 billion that the bank of England created as quantitative easing? That could and should have created growth, except that it wasn’t put into the real economy, it was given to the financial markets, gambled on those markets and enriched the few enormously, but only led to a 1.5-2% growth in GDP. Positive money calculated that had the bank of England printed sovereign money and invested in the real economy, every £10 billion would have boosted GDP by up to £28 billion.
Osborne is promising us more cuts, that plan hasn’t worked for six years, and he’s even selling off national assets at a rate never seen before in the UK. Has any of this worked? No.
Osborne says he wants economic growth, were that the case he would be investing in growth, but that’s not the Osborne way, cutting for growth is on a par with fucking for virginity. It’s the most moronic absurdist nonsense. Let’s just suppose that he invested £10 billion in house building, that money would be immediately active in the real economy, stimulating businesses, wages and spending, getting money flowing and working in the economy. That’s how £10 billion translates into £28 billion in growth, it keeps on circulating creating growth at every stage and every transaction and feeding back to the treasury in tax returns. Osbornomics is about destabilising the economy and the transfer of the nations wealth into the hands of the already mega rich. He is a cheap chiseler and an asset stripper and ordinary people are paying for this with their lives.