Douglas Carswell's Blog

Our new approach to the economy seems to be working

Labour kept the price of credit at a record low - then wondered why there was no credit available for businesses.

So we've adopted a brand new approach of low, low interest rates. It'll stimulate demand, you see. And make it easier to get a loan.

Labour tried to fix the problem of there not being enough credit by ordering banks to supply it. So we've adopted the totally different approach of a Treasury backed commercial loan scheme, with officials handing out what the market won't supply.

Labour printed money on the pretext of fighting deflation. So we've taken a different approach with more Quantitative Easing at a time of rising inflation.

Gordon Brown borrowed way too much money. So we've scaled back the rate at which government accumulates new public debt to ensure that we manage to borrow in five years what Gordo did in a decade.

Labour said "yes" to unfunded public spending increases. We've said "no" to unfunded tax cuts.

Thus have we overturned all the failed thinking within the Treasury and bankrupt orthodoxies at the Bank of England.

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