Today David Cameron called on Europe to copy the UK’s “pro-business, pro-growth” agenda. The prime minister claimed that whilst the deficit must be dealt with “growth in much of the eurozone has evaporated completely”. Of course Mr Cameron is right, growth must be high on the agenda of all European governments as the continent looks to bounce back from recession. But for Mr Cameron to be advocating the eurozone transferring the coalition’s economic policies to the continent so as to achieve growth is phenomenally idiotic. The UK, prime minister, is in yet another recession!
Since the crisis of 2008, the only real signs of economic recovery came when the Labour party was in government before the 2010 election. Since the election, the coalition has implemented swingeing cuts which have deepened the recession, the economy has stagnated, and now the UK finds itself in a double-dip recession. How anyone can advocate a policy that has delivered another recession from the jaws of recovery is beyond me and will astonish most voters.
The coalition government has increasingly had to revise down its growth estimates over its term in government, upping the amount it is borrowing and consistently adding to the debt levels that they pledged to eradicate. The truth is that the coalition must now realise that it will be nigh on impossible to eradicate the deficit in the near future if they refuse to stimulate the economy and move it towards growth, yet they refuse to do so for the sake of saving face and stubbornness. Any change in policy would add credibility to Labour’s economic policy and the Tories still hope that by 2015, voters will not trust Labour with the economy. However, it is time for Cameron to realise that, if the economy continues to stall in a similar manner to the present, voters will trust the Tories no more than they trust Labour.
The prime minister claimed today that the coalition is implementing a “pro-growth” economic policy, but as GDP figures show this policy is achieving the exact opposite of growth, the economy is receding. The coalition’s ideological cuts to the public services have drained even more money out of the economy at a time when the government needs to maintain the public services so as to ensure that consumers continue to spend. The problem at the moment is that consumers are not spending because Mr Cameron’s policies have made them fear for their jobs!
The prime minister has shot himself in the foot by advocating the spread of his economic policies to the eurozone. The coalition has consistently failed to provide economic recovery for the UK and yet the prime minister fails to recognise this (at least publicly), and, rather than changing direction, he continues to espouse ideological economic policies rather than pragmatic ones.