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Wednesday, 26 January 2011

Sanity from the OECD

Good to here the OECD a respected economist of international standing speak up in favour of reducing the budget deficit (and more so because he is paid out of the public purse). You can hear Angel Gurria, secretary general of the Organisation for Economic Cooperation and Development (OECD), outlines his views on Osborne's plans here.

Particularly interesting is the BBC lackey trying to push the Labour line on the need for government spending to avoid GDP dropping being swept aside.  The UK deficit he says was "out of control".

Likewise when she tries to put the blame on reckless lending by bankers who then go on to claim vast bonuses (not true by the way, the reckless lenders are long gone), Mr Gurria fires back with the line that the mistakes of the past are as much the fault of the regulators and politicians.

The biggest threat to the economic recovery this country is the blind support by the BBC of Ed Balls, whose sole  claim to expertise in financial matters is one third of an undergraduate degree in Politics, Philosophy and Economics, more perhaps than his former boss who was hailed as an expert by the Labour Party, but the reality is that such people should never get their hands back on the country's economic levers.

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