The Brown Blunders

The blunders of Gordon Brown have shattered the economy and cost every family in Britain £50,000. These include selling our gold reserves at a record low, raiding pensions for up to £150billion, making catastrophic tax credit errors, racking up over £1trillion in debt, and giving up our EU rebate. In total, these ghastly mistakes add up £1,300billion or more than £3,000 for every second of every day since Labour came to power. The mere prospect of Labour winning the coming election, or a hung parliament, has been enough to threaten a run on the pound. The fact is that figures plotting the close connection between Labour’s polling numbers and the performance of sterling suggest that canny international investors do not trust Gordon Brown. They have good reason to be worried. Labour inherited a healthy economy from Ken Clarke, the last Tory chancellor, and then presided over a decade of economic growth built on unsustainable public and private borrowing. Now, having helped create one of the largest deficits in the Western world, Brown has no coherent plan to bring it under control. Whatever Chancellor Alistair Darling might wish to do left to his own devices, his Pre-Budget Report in December was a disastrous cop-out, which simply ignored the scale of the problem.

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