“Bottler” Brown and “Dobbin” Darling sinking slowly into a morass of their own making
“Bottler” Brown is hovering on the brink of another indecision. Buoyed by the recent Scottish by-election win when his former teacher beat the SNP, Bottler is under pressure from his cronies to plan a sneak General Election in the coming months.
The emerging strategy is to reduce headline taxes and make up the loss by borrowing yet more money to add to the overdraft that Bottler is running up for every British family. The electoral advantage of this tactic is that the tax payer feels better in the short term because the debt does not have to be paid back until after the General Election when taxes can then rocket and the tax payer is stuck for another four years.
The advantage of going into a General Election early next year is that the worst of the bad economic news will not yet have dominated the media. It may take up to 12 months for the current Government policies to be shown as seriously defective, but they offer some illusion of short term relief from the downward spiral into Depression.
The IMF and other respected financial bodies have already claimed that Bottler has been lying to the British people. His boast to have eliminated Boom and Bust has been demonstrated to be a big lie. What the IMF have detected is an even bigger lie.
Bottler has been claiming that Britain is very well positioned and will not suffer as badly as all other countries due to his brilliant handling of the economy. He claims that the current world crisis is all due to dirty foreigners and terrorist states like Iceland. He claims to be leading the world out of recession and placing Britain first amongst nations.
The IMF research shows that Britain is leading the world INTO deep recession and that Britain will suffer far more pain than any other nation. The IMF also believes that Britain will emerge from Depression long after other countries and with a fatally damaged economy.
The IMF is probably correct.
The administration of John Major made a serious mistake in joining the European currency snake as a prelude to adopting the Euro in place of the Pound. That mistake cost £3 billion and became Black Wednesday. However, one of Bottler’s first acts as Chancellor in the Blair Brown Regime was to sell off British gold reserves at the bottom of the market, losing nearly £4 billion. That serious fiscal error was not spotted because the proceeds of the sale were poured into massive public spending projects and the loss is only now visible eleven years on.
Bottler then went on to raid British pension schemes, taking £5 billion a year out of them. This has caused the collapse of many final salary pension schemes and cost pensioners more than £20,000 each from their pension pot. This means that more pensioners will be forced to claim pension supplements from the Government to survive, raising demand on the public purse.
Bottler presided over the sale of State assets. The full scale of this loss has yet to be calculated but land and State organizations have been sold off for as little as 10% of their value. The new owners are now selling their services back to the Government at a far higher price but this is not immediately visible in public accounting records. Over ten years the cost will be enormous.
Bottler presided over an explosion in the signing of PFI contracts which are just another way of saying mortgage. Hospitals, schools and other vital services have been mortgaged over as much as fifty years. That hides more losses but the cost over fifty years will be enormous.
The hated Gatso tax cameras have raised considerable taxes. Local Authorities are now withdrawing from Stealth Tax Partnerships and planning to hire more police as a cheaper and more effective alternative that delivers real safety improvements.
Under Bottler, the taxpayer has seen the tax take rise to the point where most Britons now work for more than half of each year just to pay their taxes. That major tax increase does not include a range of stealth taxes such as those raised through the use of tax cameras to take yet more money from motorists who are already the most taxed drivers in Europe.
Bottler has depended on getting a financial bubble inflated by encouraging massive personal debt to match the huge debt mountain he has built up in Government borrowing. That bubble was already unsustainable six years ago. As it bursts, Britain is being dragged into a worse Depression than that created in the 1930s.
The IMF has taken these factors into consideration in forming the opinion that Britain will suffer more than any other country from the current economic crisis.