Darling Says Conservative Plans Risk ‘Crashing’ U.K. Economy
Posted by WARREN MOSLER on 5th October 2009
Good to hear this kind of talk:
Darling Says Conservative Plans Risk ‘Crashing’ U.K. Economy
By Gonzalo Vina
Oct. 5 (Bloomberg) — Chancellor of the Exchequer Alistair Darling said the Conservative Party plans to cut spending and welfare programs risked “crashing†the British economy, his strongest attack yet on the opposition as the election nears. Darling said Conservative leader David Cameron’s plan to phase out the “New Deal†welfare programs built up by the Labour government would hurt the nation’s poorest people and that cutting the budget deficit now would threaten the recovery.
“Proposing to end support for the economy and scrap the New Deal is entirely wrong and downright daft,†Darling told reporters in Istanbul today after attending a meeting of finance ministers from the Group of Seven. “Either he doesn’t understand what he is doing or he is not coming clean about what he is doing. Nobody else is advocating what he is proposing.â€
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Posted in Government Spending, UK | 1 Comment »
