Wednesday, September 03, 2008

Darling, you need to do much more

Chancellor Alistair Darling's moves to help the economy eg homes under £175,000 exempt from 1% tax (for a year) are very unlikely help much, both in terms of numbers of people and the extent of help. The scale of his action is basically much too small and narrow. One article in The Guardian says,

'But if Gordon Brown and his beleaguered chancellor were hoping their £600m initiative would reinvigorate the moribund housing market - and kickstart Labour's much-trailed autumn economic "relaunch" - observers yesterday gave a muted response to the measure they predicted would have only a minimal impact on the housing crisis.'
I think he should look at all the proposals in the 'Green New Deal' and take on a much bolder and bigger approach, addressing the whole range of very pressing economic issues. This would eg include 'Reining in reckless aspects of the finance sector - but making low-cost capital available to fund the UK's green economic shift'.

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