The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

England’s Rant of the Year – “England out of other peoples money’

Posted by iusbvision on March 25, 2009

England rebelling against the politics of debt and reckless spending.

Daniel Hannan speaking on behalf of fiscal sanity –

The Bank of England has broken a long standing rule. The bank has opined on governemnt policy. Quite frankly it has said that the government has spent itself into oblivion.

UK Daily-Mail:

The Bank of England and No.10 at war: We can’t afford Budget spending spree, Governor tells Brown

By Sam Fleming and Benedict Brogan
Last updated at 1:47 AM on 25th March 2009

The Governor of the Bank of England stunned Downing Street yesterday by warning against a giveaway Budget next month.

Mervyn King said public finance deficits were too high for big tax cuts or bumper spending increases on April 22.

The extraordinary warning to Gordon Brown not to blow billions on a second ‘fiscal stimulus’ came perilously close to breaching the convention that the head of the Bank does not question Government policy.

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