Gordon Brown says he “regrets” George Osborne’s “partisan talk” warning that we may have a sterling crisis on our hands – his implication being that the Opposition should be supporting him, the Father of the Nation. In fact, there has never been a greater need for full-blooded, disrespectful, combative, full-on scrutiny of what he says.
I suspect the main reason Brown “regrets” what Osborne said is because Osborne is right. I haveblogged before on what should be known as the 2008 devaluation of sterling. It gives the lie to Brown’s theory that Britain has a strong economy well-placed to fend off this “contagion” from America. That the pound has fallen so far is an eloquent comment on the health of our economy, relative to others.
I am pleased that Osborne believes, as I have long argued, that Brown may well adopt a “scorched earth” policy and wreck the UK public finances to give the Tories a worse inheritance and perhaps minimise Labour’s defeat.
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