Coalition sheds crocodile tears over young jobless
Larry Elliott, The Guardian
Here’s the reality. The government inherited an economy in which unemployment was coming down. It is now going up. The government inherited an economy where schemes to help young people into work were nibbling away at youth joblessness. It scrapped schemes such as the Future Jobs Fund to save money, making its current hand-wringing particularly inappropriate.
The City of London isn’t a national interest – it’s a class interest
Seumas Milne, The Guardian
For British ministers, there are some issues that take precedence whatever dangers their country is facing – and the interests of the City of London are one of them. Angela Merkel’s backing for a “Robin Hood tax” – on bonds, securities and derivatives traded between financial institutions – was described by Osborne as a “bullet aimed at the heart of London”.
Something happened at the end of August to terrify policymakers
So, the latest excuse for what is ailing the British economy is the crisis in the eurozone; it’s always somebody else’s fault. No longer should we blame the weather or lots of bank holidays or the royal wedding but those pesky Europeans. Of course, it couldn’t possibly be the government’s policies that have caused the slowing, could it? Austerity in the UK is pushing us back into recession, as it is in the eurozone.