Published: 25 May, 2012
• AT a time when the country is in urgent need of a stable administration, the election results are a tragic valediction on a Labour government that peddled market economies and deregulated the financial sector, allowing massive speculation and borrowing.
Then, when the bubble burst, it was forced to revert to the old-fashioned Keynesian remedy of recapitalisation.
Over the last 15 years, the gap between rich and poor has widened, and the monetary formula advocated by the Tories would flat-bottom the economy.
Corrective: a gradual reduction in the deficit, with measured reflation to revive the flagging economy; money markets deployed with fiscal management to move up the commercial sector; and regulation of money supply and taxation, to ensure a smooth transition to recovery.
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