George Osborne goes straight from the flatline to the rollercoaster


The chancellor’s boastfulness and trickery have not saved him from the criticism of the independent economic watchdogs that he himself set up

I keep wondering who George Osborne reminds me of, and it finally came to me, during what I hope – in common, I imagine, with tens of millions of British citizens – will prove to have been his last budget speech.

During the austerity years of 1945-51, there was no shortage of demand, but a severe shortage of supply. Also, the country was broke, and there was, to coin a phrase, no alternative to austerity, of which the most obvious manifestation was rationing.

Osborne cannot get away from the fact that he has presided over the slowest and feeblest recovery in living memory

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