How can Labour claim effective management of the economy when Government borrowing reached £8.7bn in May, the highest figure since records began in 1993? Our position is far weaker now than in 1993 as Britain is no longer coming out of a recession but possibly facing a new global downturn. Remedial actions to weather the storm will be severely hampered by Gordon's spending largesse. Wise counsel would suggest curtailing further spending plans, however, Labour's addiction to headline grabbing initiatives suggests otherwise.
Gordon apparently only has two options, raise taxes or break his 'golden rule'. Why hasn't he got a third option of reducing public spending? It's a shame David Blunkett cannot make government savings compulsory.
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