Desperate for short-term cash, George Osborne is causing long-term damage by selling off Britain’s most prized assets. ‘Everything must go’ is now public policy
Almost everyone who gives the matter serious thought agrees that George Osborne and David Cameron want to reshape Britain. The spending cuts, the upending of the NHS, even this month’s near-miss over the BBC: signs lie everywhere of how this will be a decade, maybe more, of massive change. Yet even now it is little understood just how far Britain might shift – and in which direction.
Take austerity, the word that will define this government. Even its most astute critics commit two basic errors. The first is to assume that it boils down to spending cuts and tax rises. The second is to believe that all this is meant to reduce how much the country is borrowing. What such commonplaces do is reduce austerity to a technical, reversible project. Were it really so simple all we would need to do is turn the spending taps back on and wash away all traces of Osbornomics.
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Less than 9% of vacancies for decently paid jobs in the UK offer flexible working, according to research that claims the lack of such options is keeping millions of people in dead-end jobs or shut out from the labour market.
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Larry Elliott (Brexit may be the best answer to a dying eurozone, 19 May) paints a grim picture of the European future in making a case for Brexit. But he fails to explain how the UK leaving the EU will help us, or the wider continent. The UK, by virtue of geography and its economic and political structures, is fully impacted by whatever happens in Europe.
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Central bank unexpectedly cuts benchmark interest rate by 100 basis points