Red Rag - Today the Organisation for Economic Co-operation and development showed they complete and utter failure that the coalition and in particular George Osborne has been in trying to get the economy working. Despite the fact Osborne keeps telling everyone, and is fan-fared by the right wing press, that he is leading the way on economics, as with most of what the coalition says, when it is independently scrutinised, it shows they are blowing out of their arse.
Follows is the Quarter on Quarter growth expectations by the OECD for the countries of the G7 for Q3 2011(July-September):
G7 as a whole : 1.6%
Japan : 4.1%
Germany : 2.6%
US : 1.1%
Canada : 1%
France : 0.9%
UK : 0.4%
Italy : -0.1%
So despite Gideon repeating constantly that we are leading the world in a new economic future, only Italy, with all it's problems is predicted to fare worse amongst the countries of the G7. To make things even worse they expect the growth figure for the UK to fall again in Q4 (October - December) and added the caveat that the figure they are predicting could be even worse, saying there is a distinct possibility the economy could actually contract by up to 1%.
It seems the only people left defending his economic plans are ultra staunch Tories, the Murdoch media and the economical illiterate.
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