tag:blogger.com,1999:blog-5732150012853730885.post5871356842643619427..comments2023-06-06T09:45:50.526+01:00Comments on Wolfie: Unite's recovery Plan4BritainWolfiehttp://www.blogger.com/profile/05363844837499772495noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5732150012853730885.post-73266491518336975192011-09-15T19:44:14.024+01:002011-09-15T19:44:14.024+01:00According to the latest figures there are now over...According to the latest figures there are now over 2.5 million out of work in Britain up 80,000 in the last three months with worst to come as a result of the Tory/Liberal coalitions spending cuts which haven’t taken effect as yet on public sector job losses. Deputy Prime Minister and Liberal-Democrat leader Nick Clegg has said the Tory/Liberal coalition government will stick to its planned cuts so no Plan B from the coalition government. <br /><br />There is a chronic lack of housing and a social housing investment programme would create jobs particularly skilled jobs for the ¾ of a million unemployed young people. Adam Posen on the Bank's policy-making committee has said that as well as another round of quantitative easing ‘‘printing money’’ the Bank of England there should be a more creative approach which takes into considerable public infrastructure investment and new money channelled into a housing programme.Wolfiehttps://www.blogger.com/profile/05363844837499772495noreply@blogger.comtag:blogger.com,1999:blog-5732150012853730885.post-14312722212176315292011-09-10T18:43:41.868+01:002011-09-10T18:43:41.868+01:00Now’s the time to enact Plan B and drop Plan A rat...Now’s the time to enact Plan B and drop Plan A rather than acting to late <br /><br />David Cameron and George Osborne were forced to defend their fiscal deficit reduction plan after IMF chief Christine Lagarde says Britain may have to change tack if the economy struggles to recover. <br /><br />Christine Lagarde says ‘‘the policy stance remains appropriate, but the heightened risk means a heightened readiness to respond, particularly if it looks like the economy is headed for a prolonged period of weak growth and high unemployment’’.<br /><br />Chancellor of the Exchequer George Osborne George Osborne insisted there will be no change in their plans for cuts in public spending ‘‘Britain will stick to the deficit plan we have set out. It is the rock of stability upon which our recovery is built. It has delivered record low interest rates’’<br /> <br />The USA’s Treasury Secretary Tim Geithner has also question Britain's focus on deficit reduction and monetary, rather than fiscal, policy. In an article for the FT, Tim Geithner warns of ‘‘unwarranted disaffection with the efficacy of the traditional fiscal tools of tax cuts and investment to encourage growth’’ adding that governments with high deficits were right to cut but ‘‘can at least slow the pace of consolidation’’.<br /><br />David Cameron and George Osborne made clear that the coalition government is determination to stick to Britain's deficit reduction plan and flatly ruled out following President Barack Obama’s example of a boost to the USA’s economy by outlining a $450bn (£283bn) jobs plan to Congress on Thursday.<br /><br />IMF Chief Christine Lagarde praised the USA’s plan saying ‘‘We welcome the proposals announced by President Obama last night, which focus on supporting growth and job creation in the short term’’. <br /><br />Christine Lagarde qualify this by adding that ‘‘As the president also emphasised, it remains critical for the United States to clarify its medium-term plan to put public debt on a more sustainable path, and we look forward to the proposed consolidation plan to be announced in the coming days’’.Wolfiehttps://www.blogger.com/profile/05363844837499772495noreply@blogger.com