Ludlow Tory Questions Brown's Handling of Economy

Ludlow Conservative Spokesman Cllr Philip Dunne has questioned Gordon Brown's competence following Wednesday's admission by the Chancellor that he had got his figures wrong and Government debt was set to soar.

Cllr Dunne said of the Chancellor's Pre Budget Report:

"Gordon Brown is taking a huge gamble with the public finances at a time when his forecasting skills are in freefall. His economic growth predictions were copiously optimistic at the April Budget, in spite of the evidence at the time. He has made the same mistake now, predicting GDP growth next year of 2.5% - 3% while all around us economic growth is stagnating."

"Gordon Brown has mortgaged our future with large public spending commitments for the next 3 years which are not funded. The £20 billion hole in the public finances for this year does not include the £100 billion of PFI 'of balance sheet' debt which our formerly 'prudent' Chancellor chooses, Enron-like, to ignore. This gaping hole is going to get bigger. The Chancellor has relied on economic growth to fund the gap. As this seems highly unlikely to happen, we in Shropshire can look forward to Government borrowing soaring and our taxes rising to plug the hole."

"The prudence myth has now been well and truly exploded!"