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The downturn is all Brown's fault



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Published Date: 18 April 2008
BATTEN down the hatches. Get the tin hat on. Despite the best efforts of various soothsayers to tell us the looming economic downturn will not hit us folks in the Edinburgh area, let me tell you now that we will all be affected – and it's not going to be pretty.
I have no doubt that the smooth supercharged V8 engine that is the Edinburgh economy will give us the torque to help us pull through, but as is usual, the poorest and the weakest will find it hardest.

Those in marginal jobs where savings can be
made by employers, those who are already struggling to pay their store and credit cards, those who have bargained on their property rising in value just as the market is cooling off, those on fixed incomes and without savings to tide them over; all will face challenges and many will need help.

Sadly, thanks to Gordon Brown's arrogance, they are now finding out that instead of being able to help them through the difficult times the Government is doing its best to make it tougher.

This should come as no surprise, for Gordon Brown's government will not be able to offer solutions until it faces up to the fact that it is responsible for many of the problems.

Only this week we had his economic holiness, our Prime Minister, going to the United States to try and urge a co- ordinated response – the subtext for this exercise being that it's all the fault of greedy rapacious US capitalism and we are mere innocent bystanders.

Brown is in denial – he has a great deal to answer for.

In the United States there is a consensus around the need for lower interest rates to be helped by tax cuts for those that will reinvest such savings back into the economy or work harder – let's call them the aspirational classes.

In Britain the situation is quite different. The Bank of England has lowered interest rates but Messrs Brown, Darling and Co cannot deliver any tax cuts – those that have been announced are illusory, funded by tax rises elsewhere, and most heinous of all, falling on the poorest, who have seen their 10p tax rate disappear while duties on booze and fags climb higher.

Britain's economic woes are chiefly of our own making. After enduring the necessary pain of the 80s, the deregulation, rationalisation, competition and tax-cutting delivered a country fit to take on the world again – and we did.

Brown's alleged success – the high employment, low inflation and improving standards of living were born out of the costly but solid foundations built before he arrived.

Since then he has massively increased public expenditure, saddled us with higher taxes to pay for it and then borrowed to the hilt when his tax takings encountered the law of diminishing returns.

Our economic growth was fuelled by high property prices that fed a credit boom. All the Americans have done is provide the pin to prick his balloon. Brown said boom and bust was a thing of the past. Well, it never really went away. How these words could haunt him.

Gordon Brown and humility are not often on the same menu, but until he coughs for the failure of his economic strategy, why should we believe he is the man to help us out of the quagmire?

Odeon needs dignity
The snaking queues that formed for The Sound of Music, the Edinburgh premiere of Butch Cassidy and the Sundance Kid, Roxy Music (in the days of Brian Eno), the Average White Band, Deep Purple, Black Sabbath and the Commodores (with Lionel Ritchie) – all bring back fond, fond memories of the Odeon in South Clerk Street in my youth.

It would be sad to see it end up as flats or a hotel, with just the graceful 30s façade to remind us of what once was.

Still, for me, it was never the same once it was boxed up into many smaller screens, and I hardly ever went after that. I agree with the Scottish Architectural Heritage Society of Scotland – if the Odeon cannot be returned to its awesome 2000-seater auditorium, it is of no architectural significance and should be allowed to go with some dignity.

Compare and contrast
New Year greetings cards sent by Lothian and Borders Police to offenders with outstanding fines and warrants were so successful they considered a similar scheme for Valentines Day, but chose Easter instead. I suggest they do Hallowe'en too.

Contrast this customer-friendly approach with the council litter patrol which came down heavy-handed with threats of fines to Baguette Express.

The Shandwick Place business, suffering like all the rest on the street while the road is closed to traffic for tram works, pointed out that workmen had removed the public litter bins.

Maybe the council should try and apprehend the litter louts instead of the shopkeepers who are more in need of some TLC – and a "get well soon" card.





The full article contains 838 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 18 April 2008 8:33 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Brian Monteith
 
1

Siroos,

UK 18/04/2008 09:29:57
Fuel Duty must be lowered. It is adversly effecting every one either directly or indirectly. They must find other areas to fill the coffers.
Where I live, many new homes were built last year, but over 90% remain unsold despite a shortage of new housing.
I can see a major crisis looming which could lead to social unrest as fingers may be pointed at the wrong people.
2

Highland Mighty,

18/04/2008 09:39:37
"but Messrs Brown, Darling and Co cannot deliver any tax cuts..."

Debt is only 40%, one of the lowest in Europe, and we aren't in the Euro so we can ignore the Euro borrowing rules. Or Brown can just reign in his prolific public spending.

Brown most certainly CAN cut taxes.
3

bluehead,

edinburgh 18/04/2008 11:03:42
brown and his mob are certainly to blame for the destruction of this country,when they were telling people the economy was sound in fact it was in a terrible state
this is the worst goverment of all time
4

Paddi,

18/04/2008 11:28:13
#3 I will have to strongly disagree with you. it's the second worst government of all time, coming in after that liar and fraud Blair.
5

Foresight,

By the Water of Leith 18/04/2008 12:05:09

Who is the more "wordy" politician, Brian Monteith or Lord Jambo Foulkes??? It is time they gave us all a rest from their never ending spouting.
6

A Friend of Fernando Poo,

, Newington 18/04/2008 12:25:28
I've a hobby interest in credit bubbles and I've had this one pegged as such for longer than most of my friends care to remember. Japan showed us what can happen when the bubble birst there in 1989 - property in Japan has only just started to rise again after 50% to 90% falls.

Now we see that the US is 12 to 18 months ahead of us. From history I have some idea of how things will play out, though sadly for my chances of getting rich, no idea as to timing. Let's say that I thought I was just about as pessimistic as it was posible to get and figured that once the downturn started in earnest, we'd see house price falls of between 5% and 10% per annum for somewhere between 4 and 14 years.

Last night I read that the California Association of Realtors (the estate agents professional body and the guys who measure what's going on in housing markets) stated that median prices in California had fallen 26% year on year. In Santa Barbera (let's say you could call it a rich area) year on year falls have been at 39%

Even I'm absolutely astonished. I'd have thought house price falls at those rates pretty much impossible. I'm becoming convinced that by the time we're through, I'm going to be proved to have beeen over-optimistic and I've been expecting us to emulate the Japanese.

What is new in the US bust is that even folks who can pay their mortgages are walking away from their houses because they wanted them to go up in value and are refusing to pay anything on houses worth less than thee mortgage. If we see that behaviour here, we're in extremely deep trouble.
7

,

18/04/2008 12:50:02
Comment Removed By Administrator
Reason:
8

steve 1511,

aberdeen 18/04/2008 12:55:58
all the greedy by to let investors with their get rich quick schemes deserve all they get and the banks for loaning them the funds in the first place,but once again we see this labour government screwing the poorest in society with increases in taxes,fuel,food
9

n1vek,

edinburgh 18/04/2008 13:34:49
3 & 4 you must be too young to remember the Thatcher years. Whilst not particularily loving the Labour party they are the lesser evil in this two party state of the union.
10

A Friend of Fernando Poo,

, Newington 18/04/2008 14:00:07
#9: At least Thatcher wasn't afraid of a recession when it was neeeded. We're in the mess we are now partly because of desperate attempts to keep the bubble going after the dotcom crash in 2000, rather than accept a necessary recession.

Brown and Greenspan may well go down in history as the men who saved a recession at the cost of a depression.
11

n1vek,

edinburgh 18/04/2008 14:15:58
When we get independence we can always prosecute her for theft.
12

,

18/04/2008 15:30:39
Comment Removed By Administrator
Reason:
13

me150,

18/04/2008 16:39:05
What utter B.O.L.L.O.C.K.S. this artical is!!!!
14

John Knox furr First Meenister,

High St, Embra 18/04/2008 19:30:12
The downturn is all Brown's fault

By BRIAN MONTEITH

Says it all really. I suppose the downturn isn't so bad that Monteith doesn't get paid.
15

Paddi,

18/04/2008 20:53:56
#9, which planet are you from?? these clowns are x10 worse than the Tories. Are you a grown up or do you want to be spoon fed all your life??
16

yoric,

18/04/2008 23:12:30
The article is dead on.

Brown has pillaged and raped this Country for 10 years.

Thatcher gave him a solid foundation, Brown has built a mud house on it. Now there's a flood.
17

M.T.,

18/04/2008 23:27:18
1# "Fuel Duty must be lowered. It is adversely effecting every one either directly or indirectly. They must find other areas to fill the coffers."

Gordon Brown increased the fuel tax twice in his first year of office.

ONE Heavy Goods Vehicle on ONE working day sends the government over ONE hundred pounds of fuel tax + VAT. At the end of the day, it is the person who has bought the milk, bread, etc who pays this cost.

Yes, Siroos,UK 18/04/2008 09:29:57,
either the fuel tax goes down or Westminster accepts the S.N.P. idea of a fuel price regulator as follows:-
"Mr Brian Adam M.S.P. is also calling on the Chancellor to introduce a fuel price regulator to protect hauliers, motorists and road users from the impact at the pumps of high fuel taxes and higher international oil prices. This device, supported by the Road Haulage Association, would create a system where higher oil prices trigger lower fuel duties. Taxes currently make up over 60% of the price of petrol and diesel and the regulator would result in an automatic freeze on fuel duty increases and a reduction in duty to match any increases in VAT."


18

Beth Boyle,

NY 19/04/2008 01:02:15
I think it's the irresponsible banks world wide not Mr. Brown, he did not come to office until the dice had already been thrown.
19

Siroos,

UK 19/04/2008 04:28:16
#- M.T., Yes I have read about it. It takes very basic mathematics to work out that, we are being ripped off and THEY keep massaging the figures relating to RPI and inflation.

It is time for another Fuel Strike if not a General Strike.If they are a People's Government, then they should act like one.
20

The Former Mr. Angry,

Perth 19/04/2008 09:25:24
Of course it's all Brown's fault. Someone must have told him once he was intelligent and talented and it went to his head.
21

antifa,

19/04/2008 11:53:57
Just a question: if it's Brown's fault, how come it's happening across the world and not just the UK?

As for Brown screwing up Thatcher's legacy, can you cite one single economic indicator which is worse now than at the end of Thatcher's reign.

No you can't.

As someone points out above, public debt is in reasonable shape - lower than it was in 1997. And it's much lower than all our EU neighbours.

Brown can cut taxes if he wants: but the idea that minor tax cuts would sort out the credit crunch problems is ludicrous.

True that's what the US has done: but the US is a. in recession and b. led by the most right-wing and business friendly government in its history (and do you really want to follow George W's policy on anything?).
22

Siroos,

UK 19/04/2008 18:44:52
#- 22, You should leave GWB out of this to give yourself some credibility.
The recession in the UK started in July 2005 with record number of people filling for IVA's and bakrupcies. This trend still continues but I believe that it peaked in 2006.
Fuel prices have a major impact on a fragile economy such as ours. We are dependant on the US and the EU economy to be in good shape. Some one once said, if they sneeze, we catch a cold. Very true.
Our men at the top have not managed to protect us from this.
At the moment $ is low and € is high. It should mean that, exports should be good. Can you give me some figures?

 

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