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Gordon Brown – a safe pair of hands for the economy

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Dear oh dear, the government’s climb-down over its abolition of the 10p tax rate must surely be the final nail in the coffin of Gordon Brown’s reputation as a ‘safe pair of hands for the economy’. What happened Gordo? Once you were the Golden Boy who proved finally that the Labour Party could be trusted to safeguard the nation’s financial well-being, but now look at you.

“No more boom and bust!”

“I will not allow house prices to get out of control!”

How did that work out for you? Here we are today with a nation up to its neck in debt, desperately struggling to stay afloat, a banking system that needs massive taxpayer bailouts (despite rewarding itself with obscene bonuses every year), a housing market so grotesquely over inflated that the price of putting a roof over your head is a lifetime of crippling debt for even the most modest of homes, and an economy so dependent on unsustainable house price inflation that when the inevitable property market collapse comes it will spell doom for us all.

Don’t worry though Gordon, some people may paint you as an incompetent, but I just see you as a King Canute figure – you may have looked good when things were on the up, but you never really had any control and now things are looking bad it’s obvious that you have no power to stop the tide from coming in.

A quick note for your successor though – you might like to think about tighter regulation of those chaps in the city, if you’d like to avoid this sort of mess in future, instead of entertaining the foolish notion that you’re the one who’s running the economy.

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