George Osborne’s plan A has not worked, Mark Littlewood told the Jeremy Vine show. Previewing the Autumn Statement, Mark Littlewood said that, although it wouldn’t be easy and it wouldn’t be nice, the government needs to cut spending more, stating that the Treasury needs to tighten its belt.
Mark Littlewood opposed the idea of government spending to kick start the economy, saying that if spending money you don’t have was the cure for economic success, then Greece would be bailing out Germany.
By living in an era of largesse, we’re asking our kids and our grandkids to pay back the debt that is being left for them, Littlewood said.
Listen to the full interview here. Segment starts at 27.10.