Darling spending plan 'misguided'

Source BBC: http://news.bbc.co.uk/1/hi/business/7691839.stm
'The government's plan to spend its way out of the looming recession is "misguided and discredited", say leading economists. Chancellor Alistair Darling wants to bring forward spending on key state-funded projects to kick-start economic recovery. ....(Meanwhile) entrepreneur and cross-bench peer, Lord Bilimoria, also expressed concerns about the implications of the policy on taxation. "I think part of the problems we've got now have been caused by the government over the past ten years having spent far too much and not having enough for a rainy day now," he told on The World This Weekend, on BBC Radio Four. "So I really do believe that there isn't much room for the government and with all this extra borrowing that it's having to take, there is a scare that taxation is going to go up even higher." op. cit.

Typical Labour response, throw some money at the issue 'til it goes away. Leopards never change their spots, as soon as it gets a bit difficult, New Labour pulls its mask off to reveal good old socialism. We were here in 1979 weren't we? A Labour Government trying to spend its way out of trouble and leaving the nation with a huge debt. How long before the Half Wit and his cronies put up income tax, not to mention a hike in Council tax after local Government lost a sizeable chunk of its cash in Iceland. Looks like you Ex-Pats did the right thing and banged out when the time was right.