Osborne's Speech

I did not watch or hear Osborne's speech but I read it and it reads well. Whether credit easing for small and medium size businesses will work remains to be seen and there are some who fear it risks devolving into a crisis like the sub-prime loans crisis. The details will not be announced until late November so we will not know until then how risky the idea might be. Osborne made clear that he does not believe in tax cuts at this time since it would involve increasing borrowing to make up the lost revenue. I do not agree with this since there are plenty of funds waiting to be invested in business but which are being accumulated instead because of the current economic uncertainties. A tax reduction would leave more money in the pockets of taxpayers, give them confidence to spend part of it and thereby increase trade thus giving more confidence to investors to put at least part of their accumulated funds into businesses. Instead we have a freeze on council tax worth £72 which is a little disappointing although in these hard economic times is better than nothing. Osborne's views on quantitative easing and global warming remain very worrying since one is an inflation booster (making the cost of living worse) and the other is based on unproven science (best postponed altogether until we have scientific certainty). Osborne did though announce a review of our climate change policies to ensure we cut our carbon emissions no faster and no slower than other EU countries and I suppose we have to give thanks for the smallest of mercies.