I was amazed this morning to hear Ed Balls on the Today programme complaining about the Government financial measures that come into force today. So let’s be very clear about this:
- As economic advisor to Gordon Brown from 1994 he is one of the key people who got us into this mess. Profligate, uncontrolled spending by the last Labour government created the huge hole that Britain is in. Â£90,000 of government debt for every household in Britain is the Brown/Balls achievement.
- The coalition now running this country is far more financially progressive than the last Labour government, which means that Osborne is hitting the rich hard and looking after the poor far better than the socialists did. Today the poorest 80% of households become better off by being taxed less.
- Labour have no viable alternative policy. They cannot explain how they would get us out of a debt position that is costing us as much in interest payments as we invest in education.
- David Cameron says that Ed Balls is “the most annoying person in modern politics”. Sounds about right.