The age of irresponsibility… Remember when Osborne said this to the Conservative spring conference in 2009?
Hm. Hasn’t quite worked out like that, has it? The Tory leadership left the theme of “responsibility” at the door when they first entered Number 10. Just consider the policies: Help to Buy, Funding for Lending, low interest rates… all have helped to boost borrowing, and all have helped to boost our current growth rates. As I said in my post on Saturday, our economy is being pushed along by consumption, whether of houses or of high-street products. We’re borrowing to spend, and spending to grow.