Felix Bungay

Felix has written 1 article for Nouse

The Economy – Best Left Alone?

The way out of a global crisis caused by excessive borrowing? Borrowing even more! Even those closest to Gordon Brown must see the horrible irony in his recently announced budget. In what the headlines have dubbed ‘Brown’s big gamble’, the Prime Minister has announced a 2.5% cut in VAT as well as an extra £4bn to spend on public works. In total this is said to have added £20bn to the UK’s national debt, the total of which, officially, will spiral to over 1 trillion pounds next year. And this figure does not account for much of the country’s debt in the form of PFI and various other ‘investments’ the Brown government keeps off the sheets. Even if we had been running a budget surplus and could now afford to borrow money, this sort of Keynesian economic approach is very much outdated and, quite simply, doesn’t work