Surprise, surprise. Guess who is going to be blamed and pay the price for the Conservative mismanagement of the British economy? Funny how this is only now emerging after most economists ripped the austerity plan from the beginning. At least this kind of stupidity has triggered voter backlash in the US, so we can only hope for the same in the UK. The Guardian:
George Osborne has told public sector workers and the low paid that they will be the ones to pick up the bill for his attempts to kickstart Britain's stagnant economy, and warned that weaker growth and higher borrowing would force the country to endure a record breaking six years of austerity.One would hope that the Republicans in the US would see how poorly austerity has worked in the UK, but of course, since they don't read or bother to pay attention to anything beyond their little world, they probably won't get it.
On the eve of tomorrow's planned strike action over pensions, the chancellor imposed a fresh public-sector pay freeze and cut financial help to the lowest paid workers in order to pay for extra spending on schools, youth unemployment, house building and infrastructure spending.
Osborne travelled to Brussels for emergency talks tonight with fellow European finance ministers immediately after delivering his autumn statement and admitted that failure to resolve the crisis in the eurozone would tip an already fragile UK economy into a double-dip recession.
