Summary
Brown's government is not to blame for inflationary trends in commodity prices or the rupture in financial intermediation - the credit crunch - but it is to blame for exaggerating earlier achievements caused by disinflationary global price trends. Instead, we were treated to gimmicks like tea with Lady Thatcher; disreputable populism such as "British jobs for British workers" - this, from a champion of an open door to eastern European immigrant workers; and opportunistic, regressive tax policies, as with inheritance tax and CGT, rounded off by the 10p rate.
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Extract
Don't Write Off Mr Bean
It isn't breathtakingly original to note that Gordon Brown has had a terrible first year in office. The interesting issue is why. I don't believe it is necessary to invoke, as David Cameron has done, amateur psychiatry or bitchy gossip. It is obvious that the Prime Minister doesn't have Tony...
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