Organisation for Economic Development and Cooperation (OECD) figures suggest Britain’s economy will slip back into recession at the start of next year.
The Chancellor is working on a multi-billion-pound “credit easing” scheme to make it easier for firms to borrow money, as the centrepiece of his attempts to boost the economy. It is understood the Treasury is considering borrowing money on the international financial markets and then loaning it directly to small and medium-sized companies through the banks.
Dear Mr Osborne, when will politicians realise that our economy is built upon sand and that the long time failing monetary system, resulting in a new recession every decade or so, has reached the end of the road?
Money should be the lubricant that oils the wheels of the economy. The sad fact is your measures are allowing the bearings to run dry.
You can switch money from your left hand to you right hand Mr Chancellor, but you do not end up with a penny more. You can cut expenditure in one area causing job losses and then spend it trying to create new jobs, but did nobody tell you that the problem is insufficient money and that the cure is more new money, not money shuffling?
For how long are you going to drag us through this tunnel with no light at the end?
There is a solution if you are prepared to discuss it and if your officials stop blocking our access to you, but until that day the rest of us must suffer growing misery and needless hardship.
If you need a clue, the answer is in the March 2011 figures when out of a total money supply of £2,265Bn only £56Bn was not based upon debt. An economy built upon sand.