Daily Mail
"..But his biggest challenge is yet to come. The real problem facing Britain is not political. It is financial, and last week's pyrotechnics at Westminster have done little to address the economic crisis.It is very grave indeed. And once again it confirms one of the immutable laws of politics and economics in Britain: it is Tory governments who sort out the chronic mess habitually left behind by Labour. ...Consider the facts. This year, according to Treasury forecasts, British government spending was expected to exceed income by the spectacular sum of £160 billion. That is approximately £500million a day - an amazing sum of money.Brown's government was in total denial about this desperate situation. It refused to do anything to confront our massive national indebtedness. ....Labour's decision to bury its head in the sand means that for the past two years the British people have been insulated from the consequences of the global economic recession. Over the next few weeks that safety net will at last be taken away. We will be forced to acknowledge the appalling economic reality.George Osborne's first act on entering the Treasury 72 hours ago was that of any new chief executive who takes the helm of a failing or bankrupt corporation. He ordered a rigorous and thorough examination of the books.So over this weekend a top-class team led by Sir Alan Budd, a highly regarded economist who is the head of the newly created Office for Budgetary Responsibility, is going through the Treasury accounts with a toothcomb, seeking to expose the accounting tricks and fraudulent devices for which Gordon Brown and Alistair Darling were notorious...."
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