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What Mr Osborne cannot say, due to the niceties of international diplomacy, is that the UK is not following Obama's path. If the Tories' economic strategy is a success then the Republicans will have an example to point to (in addition to the American approach to the recession of the early 1920s, which everyone conveniently forgets about because it was defeated without reverting to damaging Keynesian policies).

James T

Yeah nice except that Tories (and Republicans in the USA) are rarely fiscally responsible. The only time they push for "cuts" in public spending is when the economy is in danger of being totally wrecked. The current fashion for fiscal conservatism in centre-right politics has nothing whatever to do with a principled shift to the fiscal Right and so will evaporate if and when those economies recover. Five years ago most Republicans would have thought that the "war on terror" including bombing Middle Eastern countries was the heart of American "conservatism".

Kevin Davis

"fiscal responsibility is not just an end in itself"

Very good point and in fact what fiscal responsibility does, in a time of economic Armageddon, is provide the opportunity to really reshape the role of the state not just in the way in which you reduce spending but in the way that those services facing cuts grow when the economy starts to revive.

That said, and to paraphrase a former Conservative Prime Minister "you can't buck the Kondratief cycle".

Cleethorpes Rock

Spending billions of borrowed dollars bombing Afghanistan isn't very fiscally responsible.


What is fiscally responsible about being legally obliged to bail out the fiscally irresponsible?

The outrageous EU budget increase will be small change in comparison to the UK bill for bailing out failed EU member countries.


"The US dealt with its budget deficit in the 1990s under a Democratic President and a Republican Congress while left of centre parties were achieving the same in Sweden and Canada. And a coalition between the Conservatives and the Liberal Democrats is now embarking on a similar path here in the UK."

Um .... no. What happened in the 1990s is that government was deadlocked between Clinton who wanted to splurge money and Republicans who wanted tax cuts. The deadlock resulted in a big surplus, but it was a vicious deadlock not a coalition.


If your policies were that good and the country wanted cuts why did you not win a majority .No one voted for what we are getting forced on us .Your palls the Lib Dems have caused the students to riot after their dirty deals and broken promises on the NUS pledge.We should be creating jobs not cutting anything that,s not nailed down.
Andrew Edinburgh

Andrew Ian Dodge

Yes, and thisletter that I co-wrote reminds those newly in DC they were sent there to do the fiscal stuff and get it sorted quickly.

jack c

Interesting argument, but in US politics increasing the deficit seems to be a particular thing to Republican presidencies:


Fiscally responsibility for English people but for everybody else the money pours through Cameron's and Osborne's fingers to finance Scotland, Wales, Northern Ireland the EU, International Aid, as well as tossing £10 or so million to Islamic terrorists.

Anthony Scholefield

At present George Osborne's achievement is to write some plans down on a piece of paper. We shall see whether the plan is carried into actuality.

It is worth noting that he plans to increase the UK national debt in 5 years by about 60% and even in 5 years time will still be running a substantial deficit to finance capital spending and the non-structural(whatever that is)part of current spending.

To be frank,the government is walking close to the precipice and is surviving because a few others nearer the drop are engaging the attention of the photgraphers at present.

Mark Rhoads

Since all the parties in the UK basically accept the root superstitions of socialism then maybe for them fiscal conservatism is a big deal. It is important the governments respect God's commandment to Moses, "thou shalt not steal." But what is most essential to conservatism in the USA is personal liberty and constitutional principles and the rule of law. Balanced budgets are nice but they are not the soul of conservatism, freedom is.

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