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Osborne’s dogmatism

George Osborne’s economic dogmatism makes an error: public spending is not part of the problem—it’s part of the solution

By Alistair Darling   March 2011

This country faces two big challenges. First, how do we reduce borrowing without risking the recovery and damaging our economic and social fabric? Second, how do we respond to the shift in the centre of economic gravity from west to east—a shift that the turmoil of the last three years has almost certainly speeded up? The answer lies in securing growth. It is not clear how the government plans to achieve this.

The government’s plan—let’s call it Plan A—does not begin to answer either question. Any sensible chancellor would already be working on a Plan B, even if he did…

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