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Thursday, 4 February 2010

Ozzy economics‏

So Ozzy is following Brown's lead and has come up with some 'Golden Rules'. Using such detailed policy measures as 'get Britain working'. Yeah, nice one mate. All those years of education at some of the most highly regarded institutions in the western world and that's all we get. I could have told you that's a good idea, you tart.

While there are some measures which all sound very appealing, most of it is 'cut the public sector' and 'privatise anything not nailed down'. Which sounds great, but doesn't necessarily work in practice. In part because there is almost nothing left to privatise.

Deficit reduction is important, yes. But what's the best method of getting there? Boosting market confidence by doing it now but risking the economic recovery which will make the biggest (positive) difference? Or ride the wave of growth to reduce the deficit and hope that the markets and credit rating agencies don't start pulling the carpet from under it.

I'd go for the latter but with a keen eye on the possible pitfalls.

Investment is the best way, not cuts

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