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Don't blame coalition for 'economic hole' (From Salisbury Journal)
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Don't blame coalition for 'economic hole'
11:58am Wednesday 9th January 2013 in Letters
DICK Bellringer castigated the Coalition for the ‘economic hole it has dug itself’ (Postbag, January 3).
Not so! The serious digging was done by Messrs Brown, Balls and co. from 2007 onwards, during whose disastrous regime quantitative easing, that most fatuous of practices, was also introduced.
Liam Byrne, outgoing treasury minister after the 2010 election, famously summed up our dire situation in a handover note to his hapless successor saying, ‘Sorry to tell you there’s no money left’.
How right he was.
JASPER ARCHER, Stapleford
karlmarx says...
2:06pm Fri 11 Jan 13
If you envisage the UKs economic collapse as being unique in the world and, the rest of the world is not suffering the same economic collapse then by all means blame 'the previous lot'. But, the UK isn't alone so, are we to blame 'the previous lot' for the global economic collapse as well? No, that would be naive and daft.
Labour as well as the 'coalition' have failed to grasp the significant role the financial sector contributed to and, still is, to the collapse. Until this is addressed we will continue in the downward spiral. If it was in fact 'the welfare state, the unemployed, benefit cheats, public sector workers etc...' who caused the global financial disaster then why aren't 'austerity measures' working here or, in all the other countries that blamed their population, Greece, Italy, Spain, Portugal etc...
This 'coalition' is correct in that the deficit needs to be eliminated. It's how they are going about that gives away who they mistakenly think was and is responsible for the economic disaster.