The commentators 11-06-15
Shock horror. A chancellor of the exchequer thinks we should not spend beyond our means. The habit must end. The Micawberish cliche, respun by George Osborne’s aides before his Mansion House speech, is hardly new. Jim Callaghan shouted it at a rally in 1976, as did Margaret Thatcher at her party ad nauseam. Gordon Brown had his 1997 “golden rule” and America its Gramm-Rudman act. Such homespun mantras are recited by treasuries round the world, but they are dust blown away by the hurricane of politics. Like all voodoo economics, they are both right and rubbish.
- Simon Jenkins, The Guardian
Let’s hope that over the coming months we will see more prosecutions of bankers guilty of criminal activity, not excluding chief executives. The overriding lesson of the past few years is that morally dysfunctional banks shouldn’t be trusted to put their own houses in order.
- Stephen Glover, Daily Mail
There are many who believe that the British government should borrow tens of billions more and hope for the best. Those who argue along those lines generally try to maintain a semblance of fiscal responsibility by arguing that current spending (on wages, benefits and the like) should be contained and that we should only “borrow to invest”. This is dangerous nonsense. At some point, the markets will return to normal. Big spenders will be punished and economies forced to embrace emergency austerity - Allister Heath, Daily Telegraph
Cameron may have been more lucky than many leaders but which prime minister doesn’t rely on some good fortune? Margaret Thatcher might have not been re-elected if someone other than Michael Foot had been Labour leader in 1983 or if General Galtieri hadn’t invaded the Falklands. Now that the Tories have won their first Commons majority since 1992 is it time for Cameron-sceptics like me to reassess the prime minister? In large part, yes.
- Tim Montgomerie, The Times
This wasn't a story about journalists and celebs whose misfortunes no one really cares about, it was about a landmark ruling on privacy, about the comeuppance of an organisation that had repeatedly denied that it had anything to do with phone-hacking until it was dragged, kicking and screaming, into court.
Comment archive, 2015
Scottish National Party
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