George Osborne rightly points out that if Gordon Brown borrows heavily to kick start the economy we may see the ‘collapse of sterling’ and a ‘run on the pound.’ All those following the value of the pound in recent months will know that it’s value has already dropped substantially as I have mentioned here and here. In addition George Osborne justifiably accuses Brown of pursuing a scorched earth policy of leaving the economy in as much debt as possible for when the Conservatives come in power which I mentioned here.
Both of the above are not only valid criticisms but crucial in ensuring that our country’s finances and currency are not damaged beyond repair. George Osborne’s comments are what anyone would expect a Shadow Chancellor to make especially as he is likely to end up correcting these mistakes. These comments are not talking the economy down and neither will they lead to a collapse of Sterling which is happening already.
But quite bizarrely Gordon Brown instead of responding to the seriousness of the allegations made against him and responding to that charge regrets this ‘partisan talk’. I think the G20 summit and woolly talk about saving the world’s economies has detached him from reality. Only a few of weeks ago, the Labour Party produced a dossier attacking George Osborne mentioned here which was fair game but when George Osborne responds, he is accused of being partisan.
Brown realises that the charge made against him is entirely valid and reasonable but for him it is inconvenient and particuarly annoying at a time when he is trying to portray himself as the economic Prime Minister of the world. Most people will want these partisan attacks to continue to ensure Brown is held to account for his policies and to prevent him from ruining the economycompltely.