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Saturday, 17 September 2011

ConDem Economic Policy

I find the spectacle of government ministers slowly realising that their economic policy is disasterous fascinating.  George Osborne can't admit that his cuts really do go too far too fast, but  I suspect his hint at wanting more quantitative easing amounts to that.  Unfortunately, whatever effect QE may have (and it does not appear to have been that great so far) is likely to be offset by the austerity in public spending.  Meanwhile Nick Clegg is suggesting bringing forward public infrastructure projects.  Very sensible, but completely contrary to the deficit cutting rhetoric we have heard since he jumped into bed with the Tories.

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