“It’s the economy, stupid”

In continued recognition of Liberal Democrat’s economic competence, The Financial Times and Economist in the last few days has criticised both Conservative and Labour’s honesty and openness on the necessary actions to control the budget deficit whilst commending our plans and approach.

George Osborne get’s a particularly strong attack from the Economist

“One explicit difference between Mr Brown’s plans and Mr Cameron’s is that the latter wants to start cutting this year, despite the risk of stalling the crawl out of recession. In that, he is probably mistaken, just as he was wrong to oppose Mr Brown’s fiscal stimulus. In both cases, the Tories may have subordinated sensible economic thinking to political positioning.”

The Liberal Democrats have been explicit in some of the actions necessary to cut the deficit identifying areas like Trident, ID cards, scrapping child trust funds and a 10% tax on banks profits. However, unlike the Conservatives, the cuts will be made at the right time when the recovery is clearly happening, rather than straight away and derail the recovery.

As I’ve said in the first Focus of 2010, do we want Vince Cable, with experience in industry and a PhD in Economics to run the economy or George Osborne with his lack of expertise and experience and would be learning his trade at the country’s expense…

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