Unemployment - time to put GOD in charge?

  • 16 November 2011
  • From the section UK Politics
  • comments

A little light relief from today's grim, if long-predicted, unemployment figures.

At cabinet yesterday, the prime minister observed that his European counterparts were fast being replaced by technocrats. David Cameron was in no doubt who would replace him if things get even worse.

It could, he told his ministers, only be one man - the soon-to-be-retiring Cabinet Secretary, Sir Gus O'Donnell - known in Whitehall by his initials alone.

Italy may have Super Mario, but we could soon have GOD.

Interesting thought since our very own living deity is an economist who penned a secret memo to ministers some time ago advising them to have a plan up their sleeves if the economy did not grow as, er, they predicted.

According to the FT, whose story it was, the memo proposed further quantitative easing by the Bank of England (already done), direct commercial loans to business by the Bank (rejected by them, but the Chancellor plans credit easing in its place), restarting some capital investment programmes (resisted so far by the Treasury who want the private sector, not them, to cough up the cash) and even introducing some direct tax cuts (the policy of a certain Ed Balls).

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