With the United Kingdom's AAA credit rating again called so severely into question the Gordon Brown dilemma presents in ever more acute form. If there is the slightest suggestion that Brown could possibly continue in power except in the very short term there will be a complete collapse of sterling; the only thing holding the UK economy together is the confidence that responsible government will be resumed as soon as possible.
Worse, for Labour, if they go to the country with the Cabinet and NEC having forced Brown to come to terms with reality and the likelihood of leading the Labour to annihilation if he is not replaced, any suggestion that this might produce a new government too weak to act on the desolation that Brown has brought about, or even a hung parliament, will lead to the same collapse and all its consequences.
If Brown persists in going on and leads Labour into an election, Labour is finished. If he tries to avoid an election and the consequent destruction of Labour by the electorate, then the economy of the country itself will be taken down in the rush for the exit.
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3 comments:
Perfectly put HG, there is no way back for New Labour, they must commit to an election sooner or later - but they may try to make life difficult for the next government before they go.
Inevitably a disaster for all of us.
Don't worry. The maestro, having positioned us so that we were best placed to recover from the recession, says now that we will be first to fully reduce our public accounts deficit. The Indy...
Following the announcement, sterling, which had been enjoying a positive run against an enfeebled dollar, fell by about a cent from a three-month high to $1.66. However, it rallied later after Gordon Brown reiterated the Government's commitment to repairing the public finances. The Prime Minister said: "We have assured people that, as a result of our deficit-reduction plan that we announced in our Budget in April, we are taking the necessary action to cut our deficit by half... probably ahead of other countries.
Yeah. Right. He really is utterly bonkers.
"the confidence that responsible government will be resumed"
I don't know where that confidence comes from.
I mean, does George Osbourne look to you like he has the balls to do what needs doing?
No, not to me either.
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