Why is everybody rounding on George Osborne? | AccountingWEB

Why is everybody rounding on George Osborne?

I am neither for or against our chancellor as a person or in a political sense. It seems like people are jumping on the bandwagon to criticise him because he hasn't ended the Eurocrisis or got rid of all the private and public debt that is gunging up our financial system. We know that Gordon Brown reckoned he could save the world but our Mr Osborne is somewhat more sanguine. The markets are backing his decisions and the European problems are not his to fix.

There was a minister on the radio today who said that the chancellor works basically all day at the Treasury . I work all day in my business but it doesn't prevent me from undertaking voluntary work, so why should he not be busy with his party?  He is a policitian after all. Surely every MP spends time on party matters.

Just realised - it's the silly season , so the hacks have to fabricate some rubbish to publish.


Old Greying Accountant's picture

He has to stay ...

Old Greying Acc... | | Permalink

... any thing is better than Cable, the only thing cables do is tie things down.

If DC called a referendum on Europe, called a General Election for the same day (to save costs!) we might get a one party government and then things could get done - and if we get a good haul in the Olympics so much the better the chances!



Flying Scotsman's picture


Flying Scotsman | | Permalink

An EC referendum is a no brainer way to gain a clean sweep victory.

All this howling is like a kid being given medicine and stomping his feet as a matter of principle

It isn't pleasant but the alternative is much worse. What the hacks need to do is explain to people what real financial pain would be like and how we are steering clear of it

And another thing, as along as we do it right and interest rates remain low all those grumblers out there can still afford their masssive mortgages. If Osborne changes course it's curtains for the housing market



paulgrca.net's picture

Short term memory loss

paulgrca.net | | Permalink

You seem to have forgotten all the duff stuff in the last budget!

Flying Scotsman's picture

Dull stuff in budget

Flying Scotsman | | Permalink

Impossible ! One cannot forget what one has never seen  :-)

Anyway , isn't dull stuff the sign of a good chancellor ?

I do however recall something about U - turns in recent months , and I am not referring to a motoring manouvre

Such behaviour is aa sign of ill thought through announcements coupled with weakness , but I think on the fundamentals he is sticking to his guns.  With the excpetion of Devon and Cornwall , sales of pasties are unlikely to drag us out of the fiscal morass

Old Greying Accountant's picture

Ah, but ...

Old Greying Acc... | | Permalink

... unlike GB he was not too pig-headed to admit he got it wrong!

Also, if you read the small print, a lot of the "reversals" are only tinkered with to make them more palatable, a lot of the "duff" is still in there.

That aside, do you really think a different chancellor would have had a different budget? He is only the mouth piece for the treasury!



I agree..

justsotax | | Permalink

hmmm no i don't i have changed my mind....hmmm well ok then i agree with some points....or maybe not......I thought i was indecisive but then i changed my mind........


Unfortunately he has been his own worst enemy in the last few months.....

paulgrca.net's picture

Why is everybody rounding on George Osborne ?    1 thanks

paulgrca.net | | Permalink

You seem to have answered your own question!


''Such behaviour is a sign of ill thought through announcements coupled with weakness , but I think on the fundamentals he is sticking to his guns.''

Flying Scotsman's picture

Osborne v Brown

Flying Scotsman | | Permalink

Indeed GO is better than GB . The latter was a professional economist and was responsible for the mess we are in . He sold his socialist soul to cosy up to the City and made out he was Mr Prosperity.  I do feel sorry for him as a person , having gone down in flames instead of leaving in glory like his boss. Timing is everything

Indeed the chancellor is a Treasury mouthpiece more many things but I would like to hope that on fundamental decisions of direction the initiative comes from him

Perhaps the newspapers ought to publisha comparison table of "hurt" in repsective Euro economies to put our situation into perspective




justsotax | | Permalink

a comparison is worthwhile...however i fear that it is like the choice between  ....dumb or dumber.....  

Flying Scotsman's picture


Flying Scotsman | | Permalink

If we get a Liberal in the Treasury it will become "dumbest" !


Bottom line has to be that Moody's gave UK the thumbs-up on Friday .


would that be one of these

justsotax | | Permalink

agency's that AAA rated companies and countries, until things crashed and then re-rated them......ah my confidence completely restored then.....


Flying Scotsman's picture


Flying Scotsman | | Permalink

I agree that the whole credit rating kaboodle is a totla and utter con but it's the yardstick that

markets use, so as the say let us run with the herd


hmmmm, a total economic cockup

justsotax | | Permalink

caused by corrupt bankers, negligent lenders and overseen by rating agencies that can't tell the difference between a cat and a dog....


people squandering others peoples money and then needing to be bailed out.....feckless...?

Flying Scotsman's picture


Flying Scotsman | | Permalink

I am reading a great book  by the BBC's Rob Peston entitled "Who Runs Britain" - it doesn't teach me a lot but neverhteless entertaining and helps you explain it all to your granny. As they say , if you can't explain it to your grandmother then you don't understand it properly


The difference between the four legged friends is that dogs go "woof" and cats go "meow" . I think that's it but I am sure the City gents will put me right



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