Why George Osborne must be removed

Retiring Bank of England Governor, Mervyn King got in a lethal perting shot at Chancellor George Osborne in a farewell interview on the Sky News Murhnaghan Show this morning.  For more background on how Michael Howard came to appoint Osborne  read Teetering Tories archives for late 2005 and early 2006.

To understand the scale of the mistake on North Sea Tax made by Osborne in his first budget, since corrected, which the retiring Governor blamed for the disastrous state of Britain's economy last year, see this link or the post to which it directs, quoted in full below as it today also seems so relevant:

Wednesday, March 30, 2011

Gormless Governance by Milksop Ministers!

Fittingly George (née Gideon) Osborne had a recurrance of what appeared to me to be teenage acne for his appearence before the Commons Finance Committee yesterday. The spectacular blunder over the two billion pound tax grab against the North Sea oil and gas industry was covered on Channel Four TV News, last evening as may be read about and viewed from this link, amusingly titled, "Crude awakening for Osborne's refuelling of the economy". More from Aberdeen on that topic this morning from here.

This blog immediately pointed out the grossness of Osborne's budget misjudgement, read here, when the  details were known. Many years spent analysing the feasibility of commercialising North Sea oil fields allowed me to immediately recognise the potential and pointless disaster Osborne had created. Obtaining an acceptable annual average rate of return on such huge investments is always stunningly adversely affected by apparently small changes to tax legislation. All such tax regimes result in percentage returns based on the realised hydrocarbons sales price, it is therefore completely disingenuous of Osborne to argue, as he did yesterday, that changing the tax regime was the only means the government (not necessarily synonymous with the people of the country) would gain its share of rising market prices. As I stated in my posting of last Thursday in the link above:

Furthermore and even more critically at present, North Sea energy (is) in a declining phase (and) thus needs extra tax incentives as it provides a protection against the ever growing middle-east chaos.

Is immaturity sufficient excuse for Britain's milksop ministers getting everything so clearly wrong, read this on the RAF pilot shortage for example?  Is David Cameron as big a moron as his daily actions now increasingly indicate and can Nick Clegg really be as cretinous as he is allowing himself to appear?

Whatever the answer, as set out in my posting of yesterday immediately beneath this, it is clear that with Gordon Brown these two set out to deliberately bankrupt our country in a vain and hopeless bid to save the doomed Euro, immediately following the last General Election. It has since appeared that action might well prove to be be the worst they could achieve, however, daily growing evidence now throws even that assumption into doubt!

WHY DID THE THREE MAIN PARTY LEADERS AUTHORISE ALISTAIR DARLING TO SIGN UP FOR THE EFSF, KNOWING THE PROCEDURE WAS ILLEGAL, THE UK LACKED ANY GOVERNMENT WITH THE POWER SO TO DO AND THAT IT WOULD MERELY WASTE BILLIONS TO DELAY THE INEVITABLE?

Labels: EFSF, Osborne's budget

Plebgate - Let's confront the true treachery

In the broad sweep of political conspiracies and historical power changing plots and intrigue, "plebgate" (as the swearing at the gates of Downing Street by the former Tory Chief Whip has come to be called), is but a minor ripple in a very small teacup. Consequently, one presumes as a distraction from the real EU crisis, it has grabbed the attention of Britain's lightweight mainstream media this morning read here and here.

The main concern is the imminent collapse or fragmentation of the EU. The removal of Margaret Thatcher by the scheming of Michael Heseltine and Kenneth Clarke, which allowed the treachery of fellow Conservative, PM Edward Heath, to continue to reach its now approaching climax. This is pushed to the forefront of my mind by Maggie Thatcher's welcome recovery from surgery, read here.

Earlier this week on UKIP Uncovered, I posted an extract of a posting on this blog's forerunner, Ironies, from August 2003, which called for a then ill and failing Edward Heath to be offered a pardon in exchange for the names of his co-conspirators in delivering our nation into the hands of its historical continental enemies for its certain economic destruction and subsequent political domination. This is more briefly again quoted here:

With Heath having recently been flown back from Australia due to ill health, would it not be timely, sensible and a matter of the utmost urgency to now grant him immunity from the possibility of prosecution for his known treasonable actions. In exchange we should demand a detailed explanation of his motives and full details regarding his Continental co-conspirators and their possible next targets in the attempted destruction of our economy, so that we are able, while still just barely surviving as a nation state, to belatedly take some preventative measures to ensure that their schemes, rapidly reaching fruition with the pending Constitution, can at last be thwarted.

posted by Martin at 8/28/2003 06:49:00 AM

That chance to get closer to the truth was then apparently ignored. This week a similar opportunity arises with the news of ex-PM Margaret Thatcher's welcome recovery from her operation. In the archives of her Foundation, given the tremendous foresight we know this formidable lady possesses, there may already be set out full details, as she knew them, of the part played in her downfall by  Heseltine, (in Germany on the evening of the eve of her ousting) Clarke and others.

What may not be known is how Margaret Thatcher, herself, feels as to how those complicit in this probable treason should be dealt with by the nation once EU exit is achieved. Her views on how John Major, whose treachery at Maastricht and benefit from the Heseltine putsch, also makes her opinion on his proper eventual fate of more than a little interest to her countrymen and women!

Those presently in control of the once honourable Conservative Party are the heirs to these dubious dealings. Whether Cameron, Osborne or Mitchell, they are thus beneath our contempt; not least for their own inaction once becoming beneficiaries of the power (for which they plotted, salivated and lusted) was attained. 

Crunch weekend for Cameron and Clegg

Make no mistake about it, what Cameron and Clegg decide to do in the coming hours will seal the fate of their Coalition, the economy of the country and the future potential (if there is to be any) of their political parties.

First the easy bit. Resulting from the need for a further Government re-shuffle following the resignation of the Government's Chief Whip, the glaring necessity to remove Osborne as Chancellor cannot be dodged a further time.

A new Governor of the Bank of England is urgently required to salvage the wreckage left by New Labour and their appointee, Sir Mervyn King; One option being reportedly considered by Osborne is his Deputy, Paul Tucker, obviously an insane impossibility. The second choice supposedly is Osborne's head, Adair Turner, which seems at first look even less acceptabale than Tucker.

In this blogger's view there is only one individual in the country with the necessary experience and qualifications, and that is Nigel Lawson. Should he feel unable to fill the post, even on an interim basis, then perhaps he should be assigned to find a successor while the Government crisis unfolds.

I will be posting later today, on this blog, on the other options available for the Coalition. The effect of the now crucially important EU crisis will be a major consideration and this summary of the situation from Ralf Grahn, posted this morning provides some good background.

Cameron's hypocrisy on World hunger as economy halts

Quite clearly Britain's Prime Minister sees world hunger as a further "fantastic" opportunity for promoting himself, in fact it must now be obvious to the world at large that he cares for nothing else. Note this comment from the paper that supports his obnoxious political party the most amongst all UK media - the Daily Telegraph, on 26th July, here:

The former England footballer (David Beckham)met the Prime Minister at No 10 as Mr Cameron said world leaders would meet on August 12 – the last day of the Olympics – to thrash out plans designed to help starving people across the globe.
 Mr Cameron said: "Britain has a "fantastic" role to play in this." 

The blog editor's own emphasis was added to the extraordinary use of the word "fantastic" to stress its more than strange context!

Over and beyond the well-known self-obsession and over-powering conceit of Britain's Prime Minister, such a meeting takes with an even more macabre element that being all the newer financial concerns that have arisen for Britain during the course of the Olympic Games. The events by which the nation's leader has become clearly further dazzled and distracted from reality, so he possibly has yet to notice.

The Chancellor of the Exchequer, George Osborne, close friend and political fixer for the similar slime-ball who lives next door has now quite obviouqsly entirely lossed control of the economy. One of the few backbenchers in his party with a grasp for economics, John Redwood MP, pointed out on his own blog the shortfall in growth expectations revealed even by the BoE, without detailing the obvious consequences.

Among such results will of course be hunger in many of Britain's cities. Warning signs have already been published in The Guardian in April and June, of this year, both of course completely ignored by the Bullingdon Bullies in Downing Street and almost all other members of the Coalition Government elsewhere.

It is perhaps fortunate that our PM sees hunger as such a fantastic thing, it appears he and his next door neighbour are busy creating the ideal circumstances for much more of it, right in his own backyard.

An economic team for a slump?

What should one expect?

Osborne must go - then Cameron

The latest twist on the Osborne foreign donation scandal is that a respected third party has been named as witness to a donation solicitation involving Leyland Daf as a front for a non-permissible donor. Read here. No criminality occurred apparently but the question mark over Osborne's judgement will remain for decades. N. Rothschild's revenge for a clear betrayal of trust is complete. Osborne must go because there is not one single solitary redeeming factor during his tenure as Shadow Chancellor which makes his retention worthwhile. One factor only would seem to merit his retention worthwhile - that being his closeness to Vapid Cameron the Party Leader - given this blog's longstanding assertion that this Leader is absolutely worthless and unelectable (let alone in the midst of a vicious economic slump) Osborne's departure will also be of longer term benefit to the country in providing a proper alternative to New Labour.