Tax, cut, spend - it's all Balls

By William Green on Nov 19, 08 01:09 PM

Another day, another row at Prime Minister's Questions over what to do about the economic crisis while the country slides further into hard times.

Gordon says "fiscal activism/expansion" is the answer - in other words borrowing lots more money.

Gordonomics has been transformed from prudence to splurge, spraying cash left right and centre. Billions more pounds to add to huge sums already spent, seems to be the solution for the Prime Minister now.

But he refuses to say whether it will lead to tax hikes, presumably when the general election is out of the way.

But Dave says fiscal restraint is needed - in other words spending cuts. The trouble for the Tories though are all over the shop at the moment.

And whatever the problem with Gordon's plans are, the Conservatives seem to changing policy every other day. From backing borrowing, to spending restraint - what do they want?

Nick Clegg seems to be the only one who has provided any consistency with calls to cut public spending along with tax cuts and closing tax loopholes for the super-rich. But the Liberal Democrats of course once backed higher spending.

But the one interesting development is the changing mood music with both David Cameron and Nick Clegg suggesting direct state intervention in providing funding with banks still unwilling to lend despite a massive bailout.

Gordon Brown also refused to counter suggestions that extra public cash may be needed to oil the wheels of the banking sector.

All the while, who was sitting next to Mr Brown? Why Ed Balls of course. Chancellor Alistair Darling was next along the Government frontbench.

A signal of who is running the show perhaps? But then again as the Tories shouted out it could all be Balls.

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