Douglas Carswell's Blog

The Treasury script is out of date

It is not just me.  Fraser Nelson, Spectator editor, and Alex Brummer in today's Daily Mail also suggest that the Chancellor needs to stop blaming the Eurozone for the dreadful state of the economy.  

Britain is growing slowly because we have an underlying problem of competitiveness.  For years, a glut of cheap credit concealed this problem, while the previous Labour administration and EU regulations, made it gradually worse.

Rather than dealing with this underlying problem of competitiveness, the current government is still trying to mask it with yet more monetary stimulus. As a result, we have both a deteriorating competitiveness problem and chronic malinvestment. Not to mention a doubing of public debt.

Not good. Not primarily to do with the Eurozone.   

We don't just need to quit blaming in on the Eurozone. The Treasury needs to stop rehashing Gordon Brown era ideas about monetary stimulus, and produce an alternative, coherent free market approach to the economy. 

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