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Missing all the signs pointing to economic disaster
• GORDON Brown has confessed what many people have suspected for a long time, he missed all the signs that the economy was heading for a disaster, with recession and the banking crisis about to hit.
It’s not a matter of celebration to report that Vince Cable and the Liberal Democrat treasury team have been warning of the house price bubble that was bound to burst, and the massive levels of personal debt that were bound to come home to roost, for the last few years or more.
Unfortunately Vince’s warnings were ignored and even rubbished by Labour and the Conservatives until it was too late to do anything other than try to pick up the pieces.
In Camden, as in Whitehall, Labour are calling for headline-grabbing gimmicks‚ to divert attention from their failures and their lack of any long-term solutions to economic problems. Labour’s latest wheeze – to insure the banks’ bad debts – is a true sign of desperation. Any normal insurance policy would require the insurer to have at least some idea of the risk.
The government wants to insure these debts when we have absolutely no idea how “toxic” they are. This is risky and irresponsible.
The Liberal Democrats have a plan to get us out of recession.
We believe in national investment in infrastructure, such as public transport, green technology and housing. We believe there must be much stricter regulation of the banks in future, and hopefully a separation of lending/ mortgages/ current accounts and investment banking, to ensure the sort of meltdown we are now seeing will never happen again.
We believe in fairer taxation and prudent use of taxpayers’ money. That’s why in Camden we’re working hard to keep the regressive and unfair council tax down, and make the council more efficient.
Gordon Brown is continuing to make mistakes which will cost us all dear, long after his premiership ends.
CLLR BEN RAWLINGS
Lib Dem, Cantelowes ward
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