Whether or not you think they’re any good, George Osborne’s banking reforms are pretty clear. Add in his apparently robust rejection of the latest Eurozone begging letter (via the IMF), it does lead to a certain impression of knowing what he’s doing.
You might not like it or agree with it, but there it is.
Nearly a year ago The Knife founded PWUGO (People Who Underestimate George Osborne), inspired by Iain Martin’s DUEMA (Don’t Underestimate Ed Miliband Association), though I believe that the latter group folded some time ago.
This is not because Osborne has yet succeeded in much, nor is he likeable. However, bit by bit – cautious “cuts”, no to the IMF Eurobailout, a glimmer of sense on pension reform, and now the banks – something is forming. I would even chuck in Osborne’s commitment to the Irish bailout as being a plus point – trying to temper justice with mercy.
Dealing with the utter catastrophe that befell us during the long years of the Brown terror was never going to be quick. How could it be ? Two parliaments might be enough, but even then we’ll probably only be at the start of something better.
So, because of the shrieking of the BBC, Guardian etc, PWUGO’s membership is increasing. Funnily enough, I doubt that Ed Balls is a member. Despite the rhetoric, he will know that there is no magic wand in dealing with the disaster that he helped to create.
Long may it continue.