The Budget

It was more of the same today from Chancellor George Osborne as he announced a new budget in Parliament. He has flat out refused to change course from the abysmal failure of Plan A that has led to this stagnating economy. The British economy is still 3% lower than its pre-crisis level and it is on the verge of triple dip recession. Charting Britain’s economy is starting to resemble a roller coaster rather than an actual graph.

George Osborne looking rather gloomy holding the budget
source: guardian.co.uk

Osborne has put in some small changes into the budget to try and look like less of a nasty chancellor. I don’t think that 1p off a pint of beer is going to coax many people into supporting his failing government. In more depressing news the OBR has reduced their expectation of growth in the UK economy from 1.3% to a measly 0.6%. I wonder when it will get halved again. If that wasn’t enough for the Chancellor, Moody’s has already dropped Britain’s AAA Credit Rating with Fitch and S&P likely to follow.

Yet despite all this austerity, what has Britain got to show for it? Nothing. Borrowing is rising again and the coalition has borrowed more money in three years than Labour did in 13 years.  We’ve been in this crisis now for six years now, I’m starting to really believe that we are heading for a lost generation. A generation in which living standards are actually decreasing until we find someone capable of leading the country into a future that is acceptable. Until that person comes along we’re stuck with Dave, George and Nick.