In 2011, Britain’s coalition government’s austerity programme resulted in the loss of 270,000 public sector jobs. Thousands more will be gone by the end of 2012.
This government’s suicidal spending controls (since May 2010 when this blog began) has played a major role in reducing the UK’s economic growth by 2.5% of GDP.
This reduction and the subsequent deepening of the british recession has been pointed out and underlined by many economists – including the IMF.
If the UK economy does not return to growth by this time next year and the coalition government does not release its grip on spending cuts, a much deeper prolonged economic slump in Britain will be inevitable.
The trouble is… by then much of the public sector and economy will be so screwed that the coalition won’t have enough votes left to sustain re-election on.
That’s not satire… That’s a fact!
Meanwhile Cameron, Clegg and Osborne continue to use smoke and mirror soundbites to hide all of this bad news under ‘spin’ about some new Land Rover jobs.
But that’s like putting gloss paint on untreated wood with no undercoat.
If Britain’s economy finds itself f@&£*d up in 2013-14, who’s going to want to buy a brand new Land Rover or Jag off the new assembly line except freshly retired MPs and Bullingdon Club millionaires?
And don’t try saying about ‘exporting them’ because the whole word hasn’t got two coins to rub together.