Now I don’t know a great deal about politics or economics, but it didn’t take me long to realise that Osborne made a massive blunder in predicting a run on the pound. Whilst the credit crunch begins its slow and painful transformation into a full-blown recession, what we need right now is confidence coming from the top in order to begin to turn things around.
It may be the Conservatives’ role to criticise Labour’s every move, but shattering public confidence in the stability of sterling is just plain irresponsible. There are plenty of other ways to criticise Labour at the moment, and Osborne’s leader seems to be doing pretty damn well in reaction to the case of Baby P.
Osborne is, of course, obliged to be critical about the economy, but his actions have grave implications for the whole financial system. It seems he has an ‘if I’m going down, I’m taking you down with me’ mentality. And yet he refuses to apologise, and may even lose his post as a result.
There are some times where ‘telling the truth’ can do more damage than good, and you would expect a prominent politician to be aware of that. This may be the time for a novice, but it’s certainly not the time for a maverick. Just ask John McCain.
I’d be interested to know if anyone can defend his behaviour this week.
So it seems Boris Johnson disagrees with me:
George Osborne is paid to warn of such risks, and he is absolutely right to do so.
In this highly predictable piece he effectively spouts the typical Tory line, but since he can no longer sit in the Commons and berate Brown face-to-face, he has to find a new medium for his partisan accusations. Mayor Johnson’s biased ramblings aside, I think it’s a bit cheap of the Telegraph to print this. Trying to snare in readers with a big name opinion piece by any chance?