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Heseltine warns of difficult economic times ahead. He also reveals that the Pope is a Catholic!
What Cable has said has been said by many Conservatives too,you're right about 1998 though.

The problem with the Labour economy is that it has relied on debt and spending to create artificial and unsustainable demand. Now that the credit markets have dried up Labour's demand led economy is grinding to a halt. There will be a downturn in the economy and the future Conservative government will inherit much of that downturn.

Labour have certainly wasted the sound economic base that they inherited. David Cameron has already committed himself to supporting supply-side economics and stability. Exactly the opposite to Labour's support of artificial demand generated by credit. The Labour economy has been built on tick, now self-proclaimed economics guru Gordon Brown is about to find out that the days of credit are over and his reputation for economic competence will quickly disappear.

Coming from the man who was an advocate of the ERM and Britain joining the Euro, I will take this with a large pinch of salt! I hope this is not a sign of Heseltine regaining influence. He has done enough damage to our Party.

Tony M is quite correct in his assessment @ 16.30:

"The problem with the Labour economy is that it has relied on debt and spending to create artificial and unsustainable demand" and

"Labour have certainly wasted the sound economic base that they inherited".

The trouble is that voters are probably still more inclined to believe Brown's PR machine i.e. himself and his frequently propounded view that he transformed the "economic mess left by the tories" into "a period of sustained growth etc".

Can we please quantify Ken Clarke's legacy and repeat it every time Brown tries to suggest the country was in dire straits when he took over as Chancellor?

What still worries me about George Osborne and our Treasury team is that, as the Editor points out, it is Vince Cable who gets in first with the contrary view.

"it is Vince Cable who gets in first with the contrary view"

Or almost anyone else since 1992.

To summarise. The Thatcher Conservative government was crucial in bringing down the iron curtain. This lead to German reunification. This lead to German and, therefore, Europe financial chaos. This lead to "Black Wednesday" where, ignoring strident demands for Britain to follow other alternatives, the Conservative government got out of the whole thing. This lead to sustained stable economic progress. This lead to Gordon Brown claiming, and getting, the credit and Conservatives losing credibility for economics.

When the crunch comes this could lead to voters seeing Brown as the man to deal with the problem. We can't just rely on Cable!

Isn't it illegal to dig up the dead

.

Just when I beginning to think it was safe to go into the sea again.

The only reason the public have thus far failed to tumble Brown as the economic incompetent he is is because they've been using credit to make up for the rising taxes and cost of living.

As and when they can no longer do this ie. just about now, they will realise that the whole 'economic growth' story has been a sham.

Given that Brown has even been so stupid as to ignore the first rule of Keynsian economic theory ie. stock up in good times in preparation for the bad, he hasn't even left himself a weapon to use.

Can't see him even entertaining slashing taxes and public spending which is the only appropriate medicine can you?

Interesting times.

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