Blog
A Chancellor who has lost confidence in himself
3rd September 2008
But Alistair Darling’s performance on The World at One yesterday was nothing short of pathetic. Rarely have I sat by a radio and listened to someone plagued by such nervousness and self-doubt, he stuttered his way through the interview and it was incredibly painful to listen to. His performance on BBC later on in the day was a touch better. But when the Chancellor cannot display confidence in his own abilities then there is something seriously amiss.
The financial markets are totally aware of this and the loss of confidence in government economic policy is a factor driving sterling down to new lows. Everytime the Chancellor opens his mouth, sterling drops another notch. This is a man who is out of his depth.
The launch of these palliatives for the housing market was somewhat drowned by the latest forecast from the OECD - reported here.
When I was younger so much younger than today
I never needed anybody’s help in any way
But now these days are gone
I’m not so self assured
Now I find I’ve changed my mind
I’ve opened up the doors
Help me if you can I’m feeling down
And I do appreciate you being ‘round
Help me get my feet back on the ground
Won’t you please please help me?
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.