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I'm kicking myself for not seeing this scenario coming. Last year, Osborne published a Budget that had totally unrealisable cuts planned up to 2020. He did it because he thought he would never have to implement them. He was not expecting a majority. He did it to hit Labour with the Profligate stick and he was hoping for, at best, another LD coalition. After which, the cuts could be quietly ditched. I'd forgotten all that in the run up to the Budget. He's had to ram this PIP issue through to try to make his plan for deficit reduction add up. And now it's collapsing. And Osborne is a busted flush. His own side is now openly kicking against the insanity of the fiscal plans. But his entire credibility is predicated on seeing them through. I had always got Osborne down as one of the great political manoeuvrers. But I suspect he's run off the edge of the cliff this time. I think he will not survive the summer as Chancellor. Either we vote to leave the EU. In which case, he's into political oblivion. Or we don't, and he is knifed in a re-shuffle.
I'll just leave this here: http://uk.reuters.com/article/uk-britain-europe-cbi-idUKKCN0WN0IK
Reminds me of that shock story that Teresa May presented to the Tory Conference a few years back, on how the Human Rights Act had prevented us from deporting a Peruvian man whose visa had expired, because he had a pet cat. In true Littlejohn style she said, exasperatedly "And I'm not making this up!"Trouble was, she was... http://www.theguardian.com/law/2011/oct/04/theresa-may-wrong-cat-deportationAs Paul Krugman frequently says, the truth tends to have a left-wing bias.
Y'know what Billy? I've just sat here, for a couple of minutes in fact, trying to will myself into clicking that link. I failed.BobG