Here are the headings, read the article for the details:
1. Taxing dividend payments
2. Selling our gold
3. Tripartite financial regulation
4. Tax credits
5. The £10,000 corporation tax threshold
6. Abolition of the 10p tax rate
7. Failing to spot the housing bubble
8. 50 per cent tax rate
9. Cutting VAT
10. Public-sector borrowing
The title for this piece comes from the housing bubble section, here's an extended extract:
"In 2003 a mild-mannered Liberal Democrat MP by the name of Vince Cable dared to question the mantra of "the end of boom and bust". He asked Gordon Brown: "Is it not true that...the growth of the British economy is sustained by consumer spending pinned against record levels of personal debt, which is secured, if at all, against house prices that the Bank of England describes as well above equilibrium level?" Gordon replied: "The Honourable Gentleman has been writing articles in the newspapers, as reflected in his contribution, that spread alarm, without substance, about the state of the economy..." We all know what happened next."
Add up just these top 10 of Gordon Brown's financial gaffes and I wonder how much this idiot has cost the country; more than was lost on Black Wednesday I would estimate.
I note that not included in the list was Gordon Brown's quite deliberate decision to change the UK inflation measure from the Retail Price Index to the Consumer Price Index thus allowing rampant house price inflation to be excluded from "inflation" targets.
Maybe the British people are due an apology from Gordon Brown, the Labour Party and all the media who swallowed and regurgitated Gordon Brown's spin, half-truths and downright lies over the past decade and a half. An apology should surely be due for convincing us that this former political historian, teacher and journalist was in any way competent to run the UK economy.
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