Sunday, June 10, 2012

“180 degrees wrong”: George Osborne faces Tory fury over attempts to dodge blame for the recession

Chancellor yesterday claimed that the eurozone crisis was “killing” the British recovery.

George Osborne faces Tory fury over his attempt to use Spain’s ¤100billion bank bailout to deflect the blame for his disastrous economic policies.

The Chancellor yesterday claimed that the eurozone crisis was “killing” the British recovery – even though Europe has so far escaped the double-dip recession that has struck here.

And top Tory MP Douglas Carswell last night slammed the comments, saying Mr Osborne was “180 degrees wrong” to blame the UK slump on Europe.

The debt crisis is on a long list of excuses offered up by Mr Osborne and his allies which have also included the weather, the Royal Wedding and even the Queen’s Diamond Jubilee.

His latest attempt to explain away the UK’s dire financial state was timed to coincide with the weekend’s rescue deal to save Spain’s stricken banks. In a newspaper article, Mr Osborne said: “Our recovery, already facing powerful headwinds from oil prices and the debt burden left behind by the boom years, is being killed off by the crisis on our doorstep.”

Writing on his blog, Mr Carswell said: “It is not the eurozone crisis that we should blame for our awful economic performance but the almost total absence of domestic economic reform, coupled with the Treasury’s absurd belief that monetary stimulus can engineer growth.” Read More