Thursday, January 21, 2010

The Government, Not the Banks…

The County Council has to cut its spending power by a fifth over the next five years.

County Councillor Jill Tuck, Leader of the Council, said: "The next five years contains the bleakest outlook for public services nationally for decades. Dealing with those longer term pressures, painful though they are, is at the heart of our budget plans and is one of the most challenging tasks we have ever had to undertake.”

It is grim under Gordon's Premiership.

However, one of her colleagues added, “Ultimately public services are having to shoulder a heavy burden for the Government's bailing out of the banks.”

That's true, but it lets Gordon Brown off the hook.

The government allowed the country as a whole to borrow and spend, spend and spend. It did not have the means to keep track of spending, or the property bubbles, through the Tripartite system created by Gordon Brown in 1997.

Basically the Tripartite system worked like this: the Financial Services Authority thought it was the Bank of England’s job, the Bank of England looked to the Treasury, while the Treasury [Chancellor Gordon Brown] didn’t want to see problems because it had already abolished ‘Boom and Bust’.

No comments:

Post a Comment