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George Osborne: UK has run out of money

Posted By admin On February 27, 2012 @ 3:48 am In Money Watch | Comments Disabled

Rowena Mason
London Telegraph [1]
February 27, 2012

In a stark warning ahead of next month’s Budget, the Chancellor said there was little the Coalition could do to stimulate the economy.

Mr Osborne made it clear that due to the parlous state of the public finances the best hope for economic growth was to encourage businesses to flourish and hire more workers.

“The British Government has run out of money because all the money was spent in the good years,” the Chancellor said. “The money and the investment and the jobs need to come from the private sector.”

Mr Osborne’s bleak assessment echoes that of Liam Byrne, the former chief secretary to the Treasury, who bluntly joked that Labour had left Britain broke when he exited the Government in 2010.

Full article here [1]

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/news/politics/9107485/George-Osborne-UK-has-run-out-of-money.html

[2] Bilderberg 2011: George Osborne attending as chancellor: http://www.prisonplanet.com/bilderberg-2011-george-osborne-attending-as-chancellor.html

[3] Europe has six weeks to find debt crisis solution, warns Chancellor George Osborne: http://www.prisonplanet.com/europe-has-six-weeks-to-find-debt-crisis-solution-warns-chancellor-george-osborne.html

[4] George Osborne refuses to reveal cost of Libyan operations: http://www.prisonplanet.com/george-osborne-refuses-to-reveal-cost-of-libyan-operations.html

[5] Osborne To Address Financial Elite Fresh From Bilderberg Weekend: http://www.prisonplanet.com/osborne-to-address-financial-elite-fresh-from-bilderberg-weekend.html

[6] George Osborne accused of lobbying on behalf of banks for weaker regulation: http://www.prisonplanet.com/george-osborne-accused-of-lobbying-on-behalf-of-banks-for-weaker-regulation.html

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