Alistair Darling’s calamitous Budget not only consigned the nation to decades of debt, but also planted a poisonous legacy that will blight generations to come.
Alistair Darling and Gordon Brown have landed the voters in it Photo: PA
“To preserve [the people’s] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude.”
Thomas Jefferson, President of the United States of America,1801-1809.
This week, Alistair Darling made a selection for us. His Budget for Bankruptcy banished economy and liberty. In their place, he delivered a profusion of unaffordable spending and a contract of servitude, not just for this generation, but for the next and the one after that. This is how independence is murdered. A ball-and-chain of spirit-sapping debt has been clamped to the nation’s future. We are all serfs now.
In a speech of stunning torpidity (how does he manage it?), the Chancellor claimed: “You can grow your way out of recession, you can’t cut your way out of it.” Growth sounds attractive, an aspiration for solid citizens. Except the growth that Mr Darling had in mind was government borrowing, which is shooting up like bindweed on steroids, choking the economy.
His red numbers are so immense that most pocket calculators cannot accommodate them. Over the next five years – if all goes according to plan – Mr Darling will borrow £703,000,000,000. As the late Roy Castle used to say: “It’s a record breaker!”
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The United Kingdom is mired in debt, and the Chancellor’s fiendishly clever escape route is, er, to borrow his way out of it. He’s in a hole and digging furiously. Yet Gordon Brown, whose face is beginning to resemble a smacked bottom, was delighted by his cipher’s performance. This style of presentation – straight from the Ceausescu handbook of statistics management – appeals to the Prime Minister’s control-freakery.