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In the views - Latest from the media blog
It's the silly season in British politics and the summer downpours are washing away Gordon Brown's credibility as a Prime Minister and figurehead for a nation approaching a crisis.
"What crisis?" you may ask, but only if if your business isn't in the banking or building industries.
There are two crises on the horizon and both need clear leadership, firm decisions and clarity of communication. Both are linked by fossil fuels.
The first is going to hit the general economy this winter when the sharply increased prices of gas and electricity hit every household and business in the country. That will mean less money to spend, less money to invest and a general slowdown of the economy.
Couple that with increases in global food and transport costs that are fueling inflation of our day-to-day living, and you have a recipe for serious economic hardship, across all levels of our society.
And there is nothing that Gordon Brown and his Chancellor Alastair Darling can do about it....except blame global energy prices. Their inability to compensate for these issues is down to both of them increasing government borrowing to fund a host of expensive social initiatives and overseas military adventures.
The Bank of England controls interest rates - but that is a small element of what makes our economy tick and takes time to work through to the people's pockets. Adjusting levels of taxation would have a far quicker effect on our economy and help it weather the brewing storm..... But they little room for manoeuvre if they don't cut current levels of Government spending.
But that would be seen as a political climb down and an admission that we are entering some very tough times.
So, as the two who have been in charge of the economy for many years, Gordon and Alastair will almost certainly pay the price at the next election, as the public opts for a fresh look at how to run a leaner government in leaner times. Current opinion polls confirm that the UK will demand that change......... Read more...