0325 GMT
London
Saturday
02 January 2010
Editor © Muhammad Haque
KHOODEELAAR! Telling London 'Financial Times' and its 'ex-Editor' the UK CBI's Richard Lambert that they BOTH lack credibility. Especially as they peddle the Tories' line about the nearly £200 Bn deficit in the UK economy. This deficit is directly linked with the POLICY that FUNDS wasteful CRASS Crossrail!
BOTH the FT and R Lambert have been backing the deficit economic adventures as indulged in and flaunted by G Brown and both have backed UK G Brown’s follies of OTT-hyping his [G Brown’s] ‘historic sense of managing the economy’. That hype, as we have briefly put it here, will go down as probably the most dishonest one peddled by G Brown.
On all four counts, all of them are wrong, have been wrong and they are all further confounding their fallacies by now faking a new layer of pretension.
We have told off all three for their fakery and we have shown in then past years how each of them got it wrong.
We now tell the FT and Lambert to admit that they had got it wrong to back CRASS Crossrail and that they were wrong to back the debts-causing adventures that do not address the core of the needs and demands in the ordinary UK economy.
We ask them to call for the scrapping of Crossrail and similar scams.
[To be continued]
Action on deficit not yet credible, says CBI
By Jean Eaglesham, Chief Political Correspondent
Published: January 2 2010 02:00 | Last updated: January 2 2010 02:00
Britain's leading business organisation has attacked the adequacy of government plans to tackle the £178bn budget deficit, saying ministers have not set out a "credible pathway" back to financial stability.
The CBI's criticism will increase pressure on Alistair Darling to take more rapid action to cut record UK borrowing. The chancellor is likely to come under Conservative fire on Tuesday over the pace of his planned deficit reduction, during the second reading of the fiscal responsibility bill in parliament.
This legislation is de-signed to give legal force to the government's pledge to halve the deficit over four years as a share of national income. The Treasury has also pledged to cut borrowing every year until 2015-16.
Yesterday, Richard Lambert, the CBI's director-general, questioned the effectiveness of the bill. "It's a bit like me saying I'm going to join the gym and that means I'm fit already," Mr Lambert told the BBC. The legislation was no substitute for measures to address the "big structural problems" in the public finances.
He called on ministers to bring forward credible plans to deal with the deficit within the lifetime of the next parliament, rather than "leaving a lot of the heavy lifting . . . to the parliament after next".
"I'm certainly not satisfied with the government's plans," he said. Ministers had not "set out yet a credible pathway back to financial, fiscal stability".
The Tories saw his remarks as support for their own policy of taking faster action to tackle the deficit.
"Richard Lambert's comments strike a blow at the heart of Gordon Brown's baseless assertion that dealing with the deficit would damage recovery," said Philip Hammond, shadow chief secretary to the Treasury. "The CBI has added to the long list of commentators who agree that Britain urgently needs a credible plan to deal with the deficit to secure recovery."
Mr Lambert suggested that a Tory election victory this year would have little effect on public spending until the second half of 2011. "That is one reason why there is such a terrific amount of uncertainty about the economy."
He also criticised the education system in England for producing exam results "we ought to be ashamed of" and failing pupils from poorer homes. He told the Guardian newspaper that ministers had failed to ensure increased funding was spent efficiently.
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