Britannia Radio

THE SUN SAYS -----   30.9.08
Osborne tells painful truth

THE Tories have no illusions about the tough times ahead for Britain 
- whoever wins the next election.

George Osborne spelled out the hard truth in a powerful speech on the 
economy. He was heard in sombre silence as he named the culprits - 
greedy bankers and spendaholic Labour.

He spoke of the need to rein back the outrageous rewards in pay and 
bonuses for the bankers who have got us into so much trouble.

And after blasting Gordon Brown for "leaving the cupboard bare", he 
vowed to ban governments from running up debts that cripple us just 
when we need freedom to act.

The one bright spot in an otherwise uncompromising speech, was his 
promise to freeze council tax for two years.   But if Britain is to 
rebound from the looming crisis, this welcome move must be just the 
beginning.

It is hard to argue with Mr Osborne's charge that Labour has 
squandered and borrowed too much.

The Shadow Chancellor won't say so publicly, but he knows he faces 
many painful decisions if he ever gets the real job.

The cupboard IS bare. Welfare bills will soar if unemployment rises.

Cuts
Whichever way the Tories try to dodge the question, this means 
wielding the knife - starting with the bloated public service.  It is 
ridiculous to argue cuts are not essential - or that they dare not 
risk the anger of the one-in-four voters who work for the State.

An over-mighty public sector not only creates no wealth, it crowds 
out the private sector investment and expansion that drives the economy.

Private sector workers will not quietly go on the dole while millions 
of state employees enjoy job security, good pay and the best pensions.

If we needed any further evidence that Whitehall needs drastic 
pruning, with smaller government and lower taxes, it was around us in 
gloomy abundance yesterday.  Bradford and Bingley became the latest 
bank to go bust. It's becoming hard to remember the toll of household 
giants that have gone under in recent days.

The losses - and the cost to taxpayers - run into many billions.

Meanwhile, stock markets are in freefall after the rejection of 
America's £400billion lifeline by the House of Representatives.

Mr Osborne hit a nerve by warning there is only one Golden Rule: 
"Never trust a Labour government with the public finances."

But the most hurtful jibe came as he said: "Gordon Brown spent money 
like there is no tomorrow. Well, for him there may be no tomorrow.