I’m confused

Lots of comforting noises started to come out of No 10 when everyone realised that the credit crunch was actually a full-blown global catastrophe of the first magnitude and that the government could no longer pretend it was all going to go away.

There’s been talk of real help with mortgages, jobs, retraining, loans, etc.

But what’s actually happened?

The billions of quids loaned to the banks are sitting there doing bugger all, jobs are haemorrhaging on a daily basis, the pound is now worth a euro, Mandy is being tough and not loaning Jaguar Land Rover the billion they’re asking for and a leaked government document has suggested that lending the hardest-up people in society money at an interest rate of 27% apr is being considered (since strenuously denied, natch) at a time when interest rates are at their lowest ever and, to add insult to injury, Gordon Brown has said he likes the X-Factor winner’s version of “Hallelujah” and that he will buy it for someone as a present – which is possibly the most fucked-up thing he’s come out with so far…

If this is helping us, I wouldn’t like to see our government turn against us…

Good…

…grief…

I didn’t realise she had another £5 million gaff…

Credit crunch ‘victim’?

VAT’ll do nicely?

Is reducing VAT on ‘non-essential’ goods from 17.5% to 15% really going to do any good?

Say I see an mp3 player I fancy that retails at £100 plus VAT today – that’ll cost me £117.50. If VAT then gets reduced to 15% then it’ll cost me £115.

Is that going to make me wait to buy it?

Is that going to make me continue spending my money on high VAT-rated items?

I think not.

Given that Alistair Darling has stated that if you give money to the poorest people then they’re more likely to spend it – and I find that not only cynical, but deeply offensive – wouldn’t it be better to give them more money via tax credits, for example, that they’re more likely to spend?

David Cameron’s recent comment on the government’s measures to rescue the economy made me laugh:

‘The government is giving with one hand and taking away with the other’

No change there then…