UK’s Osborne urged to focus on economy

Speaking on BBC Radio 4’s Westminster Hour, Lord Lawson called for the UK’s Chancellor George Osborne to give up his second role as chief Tory electoral strategist and instead focus exclusively on the tough job of addressing the budget deficit.

Britain’s ex-chancellor said Osborne ought to “focus exclusively on his job as chancellor of the exchequer”, adding, “I think his last Budget was not his biggest success. I think he should continue in that job but I do think as you suggest that it would be sensible for him to set aside his second job.”

On Thursday July 19, in its annual report on Britain, the International Monetary Fund (IMF) warned that the British economy risks suffering permanent damage and called on the British government to change its economic policies.

Lord Lawson also urged the Prime Minister David Cameron to stop “modeling” his premiership on Tony Blair, and look instead to Margaret Thatcher for inspiration.

Meanwhile, on July 20, the Office for National Statistics (ONS) warned that despite the Coalition’s spending cuts and tax rises, Britain’s public sector borrowing in June increased to £14.4bn, compared to £13.1bn in the same month last year and economists forecast of £13.4bn.

Describing the latest UK borrowing figures as “another damaging blow to David Cameron and George Osborne’s failed economic plan,” Rachel Reeves MP, Labour’s shadow Chief Secretary to the Treasury said, “By choking off the recovery and pushing the economy into recession the Chancellor has ended up borrowing more – as we repeatedly warned.”

SSM/JR/HE

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes