Thursday 26 March 2009

A bow without strings

There's an uneasy feeling that the walls of 10 Downing Street are closing in - Brown is simply running out of options.

Even if the Treasury and the Bank of England would let him launch a second fiscal stimulus I don't think it would play well with voters.

It's not just that people are staring into a black hole of debt, it's that they feel Brown is spending to save his political skin.

Meanwhile they’ve yet to really feel benefit from the last stimulus.

If the voters don't like the idea of a fiscal stimulus Brown would think twice about it anyway.

But without that what has he got? The private sector? Not after the financial firms shunned an auction of Government gilts yesterday.

The international community? We'll find out after the G20 next week.


subrosa said...

The G20 is causing a great deal of anger, especially down your way by the sound of it LD. On radio last night there was discussion about the policing cost and many were asking why does it have to be held in London.

'The walls are tumbling down.'

Anonymous said...

Ah, but it's not just 'London'. It's London Canning Town. One of East London's deprived areas, not too far from the Stratford Olympic development.

The whole G20 meet exercise is mere PR anyway. The final communique is already being written.

What's another £20 million from the public budget if it delivers picture ops for Brown with the world's top leaders?

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