UK will not go bankrupt
(Well, Not Unless It Chooses To.)
by Martin Odoni
One recurring myth about the National Debt, a myth that simply refuses to release its expiring gasp, has been given plenty of fresh oxygen once again this week, in the aftermath of the Autumn Statement by George Gideon Osborne – our economic mastermind par excellence*. One example of this is from the Chancellor’s near-namesake at the Daily Telegraph, Peter Oborne, who wrote an article criticising Osborne for having a far less impressive hand on the public finances than the man himself seems to imagine.
On the one hand, it is quite refreshing that the Telegraph, of all newspapers, is willing to take a Conservative Party Chancellor down a peg or seven. In recent times certainly, when he has not been looking suspiciously trippy, Osborne has looked much too pleased with himself for ‘achieving’ a year of modest growth in GDP, which happened
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