Incompetence rulesby Douglas Carswell / November 14, 2012 / Leave a comment
Published in December 2012 issue of Prospect Magazine
The coalition has so far squandered its chance to be a transformative government (photo: The Prime Minister’s Office)
It could have been so different. A Conservative-Liberal Democrat coalition not only ought to have worked—it could have been transformative. By fusing together Conservative ideas about the free market with the Lib Dem tradition of political radicalism, the government could have become a watershed administration. But it has been nothing of the sort.
The lack of anything new has been most obvious when it comes to economic policy. Far from trying anything bold or different, we have ended up with Continuity Brown, the macroeconomic setting virtually unchanged from when Gordon was at the helm. During the five years of this parliament the government will borrow more than Gordon Brown managed in 13 years. Just like under Brown, the treasury has looked to monetary stimulus to produce growth, but ignored supply-side reform. “Unfunded” tax cuts continue to be ruled out, yet “unfunded” borrowing never seems to be.