Skip to main content

Mr Osborne knows best!

I sometimes wonder when I listen to discussion about 'the unemployed' and 'getting tough', or about 'strivers' and 'shirkers'  whether we appreciate fully the seismic impact of the financial crisis on British businesses and jobs. In the space of 12 months in 2008/09 a staggering 220,000 companies went out of business with the loss of 1 million jobs.  What is needed is investment and the creation of new jobs. What is not needed is cuts in spending. Cuts in spending further contract the economy and increase the deficit in public finances through loss of tax revenue. The way out of recession is to get people back to work productively, spending in the high street and paying taxes.

It all seems obvious. It isn't the equivalent of economics rocket science. Many have been saying it. The tragedy is the coalition and the political consensus signed up to the idea that the deficit had to be cut. The deficit was not the problem. It was if anything a symptom. Now we have chief economists at the IMF saying what we knew all along. Not only should there have been a plan B, there shouldn't have been a plan A. Plan A, a slash and burn of  public spending and services, is doing dreadful damage not only to economic recovery but to the people most affected, the poorest. 

But what is Mr Osborne's response to the Chief economist at the IMF calling for change in approach? He rejects it. "I don't think it is right to abandon a credible deficit plan," he says. He is concerned about losing credibility should the government now change course. Credibility? With the economy likely to move into triple dip recession there is no credibility. The only credibility is that of saving face; of not admitting that the coalition have got it so terribly wrong. So we are set to continue with policies that are clearly not working.


Comments

Popular posts from this blog

Palm Oil production killing the planet

Bad trade and bad products are killing our planet. We have said this before on The Thin End. There is no better example than that of palm oil. It is used ubiquitously in so many products, and its production is a major factor destroying rainforests and threatening precious species.

Demand for palm oil is 'skyrocketing worldwide'. It is used in packaging and in so much of our snack foods, cookies, crackers, chocolate products, instant noodles, cereals, and doughnuts, and the list goes on.
Bad for the planet So, why is this so bad for the planet?

The oil is extracted from the fruit of the oil palms native to Africa. It is now grown primarily in Indonesia and Malaysia, but is also expanding across Central and West Africa and Latin America.

Palm oil production is now one of the world's leading causes of rainforest destruction, and this is impacting adversely some of the world's most culturally and biologically diverse ecosystems. Irreplaceable wildlife species like t…

Nicotine exposure in pregnancy linked to cot death

Nicotine exposure during pregnancy, whether from smoking cigarettes, or nicotine patches and e-cigarettes, increases risk of sudden infant death syndrome – sometimes known as “cot death” – according to new research published in The Journal of Physiology.

Sudden infant death syndrome (SIDS) is the sudden and unexpected death of an infant under 12 months of age occuring typically while sleeping. Failure of auto resuscitation, the ability to recover normal heart rate and breathing following gasping caused by lack of oxygen in the brain, has been recorded in human SIDS cases.



Smoking increases risk for SIDS Over the last decade, use of cigarettes has declined significantly, however, over 10% of pregnant women still smoke during pregnancy. Over recent years nicotine replacement therapies, such as nicotine patches or e-cigarettes, have been prescribed to women who wish to quit smoking during their pregnancy. However, nicotine replacement therapies may not protect infants from SIDS. 
With inc…

Maternal depression can impact child mental and physical health

Maternal depression has been repeatedly linked with negative childhood outcomes, including increased psychopathology.  Now, a new study shows that depression in mothers may impact on their children's stress levels,  as well as their physical and mental well-being throughout life.

In the study, published in the journal  Depression & Anxiety,  the researchers followed 125 children from birth to 10 years.

At 10 years old, the mothers’ and children’s cortisol (CT) and secretory immunoglobulin (s-IgA)—markers of stress and the immune system (see below)—were measured, and mother-child interaction were observed.
Psychiatric assessment  The mothers and children also had psychiatric diagnoses, and the children's externalising and internalising symptoms were reported.



Internalising disorders include depression, withdrawal, anxiety, and loneliness. They are often how we 'feel inside', such as  anger, pain, fear or hurt, but may not show it.  In contrast, externalising symptom…