Jul 26, 2012

Cameron’s Britain: (re)doubling down on austerity?

Britain's economy is in a deep, deep hole. And David Cameron and George Osborne seem keen to keep digging.

You could have heard the muttered oath, “Thank god for the Olympics”, run through the British government last night. Only a couple of days to go before the five-ringed circus that will divert voters for 17 days away from the growing evidence that Britain is being run by an inept bunch of Old Etonian toffs and camp followers.

Data out overnight showed that the UK economy is now in the midst of the worst economic slowdown for more than 50 years. The last double dip was in 1975 and 1976 and the then Labour government was forced to turn to the IMF for help. The economy is sliding at an annual rate of more than 2% after the first estimate of June quarter growth shocked economists by coming in at negative 0.7%, instead of the confident market forecast of negative 0.2%. The British economy is now smaller than when the Tory-led Coalition came to power.

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9 thoughts on “Cameron’s Britain: (re)doubling down on austerity?

  1. drovers cat

    The only bankruptcy we’re facing in Qld is the moral
    type, thanks to Premier Campbell Bonaparte.
    But yes, the state will go the way of the UK in a year or so

  2. klewso

    What jolly japes, dressing up and getting to play “Gov n’ Mint”, for real?
    Just like they practiced in their revues?
    It’s not as living costs and money are a worry for them.

  3. klewso

    And don’t “tourniquets” stop circulation?

  4. tinman_au

    Didn’t the Olympics kill Greece off as well?

    And considering Qld has a AA credit rating, I’m not sure what CanDo is smoking…

  5. The Pav

    What is happening in the UK is what Abbott will do to Australia.

    Remember he didn’t have time to see the troops in
    Afghanistan so he could take lesson from
    the Tories.

    Thank goodness we had a proper govt in power when the cisis started.

    Just hope that the Qld slash & burn doesn’t drag the economy down too much.

  6. Bob the builder

    PIIGSUK has a nice ring to it.

  7. AR

    “BIGPIS”? though I like BoB’s offering. Given that Camoron hasn’t a clue and Bumnose Osbourne doesn’t give a proverbial, they have made three fundamental errors, even for tories.
    When thatcher started her abolition of british industry one of her first actions was to double the pay & numbers of Plod and allow troops to augment them in strike breaking. The Cameroons were clearly out wrecking restaurants with their Bullingdon bully mates instead of attending history lectures if they don’t realise that the state must always have sufficient of the working class on hand to oppress tuthers if such penury is to be enforced – Orwell’s “rough men doing violence while we sleep..” which was a reworking of Kipling’s “Tommy” but now they’ve screwed both Plod & Tommy.
    When the fortnight of brand placement ends, a significant proportion of the cops & soldiers will be copping their P45s.

  8. CML

    Good article, guys!
    We should all be grateful for the Rudd government being in power when
    the GFC struck. Read above what we escaped. If the coalition had been
    in power, and instigated their approach, we would now be in the same
    position as the UK. We may yet reap the “benefits” of their crazy ideas if
    the rAbbott wins the next election.
    The apologists for this lot need to grow half a brain!

  9. Andrew (the real one?)

    When will ‘tear it down’ Tony and his ‘leftovers party’ be announcing his eight years of austerity to save us?
    I trust his subjects will lap it up like good little doggies?
    Can someone please save us from this idiot?

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