A Strong Voice for Croydon Central - Gavin Barwell MP
Help me
Contact me

The architect of our problems is now in charge of Labour's economic policy
20/01/2011 23:52:00

I don't know Alan Johnson but he has always struck me as a decent man. I hope he gets through whatever personal problems he is experiencing.

But Ed Miliband's decision to appoint Ed Balls in his place is a big mistake.

Sure, he is Labour's best Parliamentary performer and will give George Osborne a much harder time than Alan Johnson, who was clearly struggling in the role.

But he is the worst possible person to put in charge of Labour's economic policy. No-one other than Gordon Brown is more responsible for the mess we are in today.

He was Gordon Brown's chief economic adviser and then served under him as a Minister. He was there when Brown destroyed our pensions system, there when Brown sold off our gold reserves for a rock-bottom price, there when Brown took away the power to regulate the banks from the Bank of England and there when Brown got us further and further in debt in the boom years when he should have been putting money aside for a rainy day. He has never apologised for any of these mistakes and since the Election he has made it clear that he doesn't even support the previous Government's inadequate plans to deal with the deficit.

We know that Ed Miliband didn't want to appoint Ed Balls to this job - indeed, he was so desperate not to do so that he picked someone with no economic experience instead. The fact that he has had to turn to him second time around shows how weak his position is.

Tackling the deficit and getting the economy growing again is the biggest challenge facing this country. Ed Miliband has just put the architect of our problems in charge of coming up with Labour's solution.

Comment on this blog


Readers' Comments

On 25/01/2011 19:26:00 Paul Ogier wrote:
In the light of todays GDP figures for the last quarter - and even allowing for Network Rail and Eurostar type 'explanations' of leaves on the lines/the wrong kind of snow from the Chancellor - will you also be revising any of your comments on your blog of the 30/11/2010?

Further in one of your blogs soon after your election you suggested the readers read a Goldman Sachs report on the economy. Have you any comments about that particular bank's bonus provsion for 2010 and will you be suggesting that we read that report? What representations have you made re bankers bonuses in the UK, both those partially owned by the government and those in the private sector who have also been indirectly subsidised by quantative easing?

On 26/01/2011 16:06:00 Jim wrote:
Ed Balls is a very dangerous man and I'm sure he won't be underestimated by the coalition. The sad fact is that Britain, with its bloated public sector, has been living beyond its means for years. As people increasingly feel the pinch, many will be vulnerable to the siren spend-spend-spend calls from the Labour crowd. But the cupboard's bare - to spend, Labour can only run up further debts in our names.

A mate of mine was rung up by a guy from the Department of Business, Innovation and Skills (what a silly name). Some kind of survey into the measures his business was taking to "encourage diversity". Can we have the DTI back and have it focus on "trade" and "industry" without the mission creep/gold plating?

If left alone, the private sector can deliver prosperity. I'm beginning to think that mere "cuts" to the public sector will not be enough. A "hatchet" job is what's needed with these people.

On 27/01/2011 16:58:00 Gavin Barwell wrote:
Paul - no, I still stand by what I wrote. Indeed, speaking after the publication of these figures on Tuesday night the Governor of the Bank of England said:

"The UK economy is well-placed to return to sustained, balanced growth over the next few years as a result of a fall in the real exchange rate combined with a credible medium-term path of fiscal consolidation. Of course, there will be ups and downs as the squalls from the world economy blow us around. But the right course has been set, and it is important we maintain it"

On bonuses, I have lobbied the Chancellor. I am particularly concerned about the banks we have a stake in. You say all banks benefited indirectly from quantitative easing but that's true of the whole economy.

Jim - I don't want to see a hatchet taken to the public sector. Whilst we all see examples of waste, most public servants are doing important work. But as you say we have to live within our means.




 More Blog Posts
Thank you
  Read Story
My concession speech after the 2017 General Election
  Read Story
Today is polling day - and why I hope you'll support me at the polls
  Read Story
Five reasons to vote Conservative
  Read Story
Howler at the hustings
  Read Story
Campaigning suspended
  Read Story
Funding care for the elderly while making sure people who have worked hard can pass something on to their kids or grandchildren
  Read Story
Opposing Labour's plans for intensification zones in Shirley and Forestdale and to build on the Green Belt/Metropolitan Open Land
  Read Story
Labour’s misleading leaflet on school funding
  Read Story
Fox hunting
  Read Story

Full list of blog posts here

Gavin Barwell, 133 Wickham Road, CR0 8TE, Tel  020 8663 8741      © Gavin Barwell  2019       Promoted by Ian Parker on behalf of Gavin Barwell, both at 36 Brighton Road, Purley, CR8 2LG