Qualified to Lead the Economy and Keep IMF from the Door

So Ken Clarke with his Law degree thinks that leaving the economy in the hands of Doctor Vince Cable (that PhD is in economics) and former lecturer at Glasgow University and the London School of Economics will lead to the IMF having to bail out the UK. At least that seemed to be implied as the Tories continued to say that only by giving them the keys to Downing Street as a block set will that be avoided.

I'm sure Clarke doesn't think that Alistair Darling a fellow lawyer is better qualified that the former Shell Chief Economist. So that must leave the modern historian George Osborne as the best economic mind to deal with an economic crisis.

It's ludicrous to think that voting for more LIb Dems will lead to a destabilised economy. Indeed one thing we have been saying is that we should get all the parties together to work out an economic plan to get us out of this. Looking at the manifestos of both Labour and the Conservatives one thing that is lacking is that clear plan.

Here's one that George and Ken may want to consider five tests before we start to cut the deficit and indeed possibly before the Tories might end up having to fall back on the IMF.

• the rate of growth
• the level of unemployment
• credit conditions
• the extent of spare capacity in the economy
• the cost of Government borrowing

I'm sure both Clarke and Osborne will come across those ideas when they actually get back to scrutinising the Liberal Democrat manifesto* rather than scaremongering and spreading fear. It is the spreading of fear from the Tories that is actually causing the bankers to panic rather than a promise of hope to work through this economic strive together whatever the outcome on May 6th.

However, I guess the Tories are too short sighted to see things that way.

* Scottish version also available.

Least Bad Answer - Says Question Poser

I haven't got around to posting this yet but over 30 years after he initially posed the question the then MP for West Lothian Tam Dalyell has acknoweldged that a recent Conservative proposal is the 'least bad answer' he has seen thus far.

Ken Clarke who has carried out the democracy review and Tam are not natural bedfellows, but the former father of house says that Clarke "grasp of the difficulties of devolution" is greater than anoy of the Labour members during that time from 2001-05. Seeing as for part of that time the man charged by Labour with the task of constitutional reform was his neighbouring MP the late Robin Cook, before he resigned as leader of the house, that may be a bit unfair and Robin did have a fair grasp of a great many constitutional issues. But it may well be true of any of the Labour members then present who still sit in the House of Commons.