THE Conservatives head to their annual conference next week amid serious doubts that their economic plans are actually working. The British economy has failed to grow at all over the last nine months and unemployment continues to rise. There is a strong possibility of a double dip recession. The Bank of England could even be forced to pump more money into the economy. I sincerely hope that the Conservatibes have a Plan B. because otherwise they may have to carry out a highly embarrasing U-Turn.
The enormous government cuts are going to hit economic growth but at the same time the private sector is not creating the jobs that Prime Minister David Cameron said it would. The serious financial problems in Europe will hit Britain because it is the main export market. I would urge Cameron to slow down the pace of cuts in the light of the new economic conditions. The major western economies are still not in the clear, there is a danger of another recession. While the majority of the electorate support Cameron´s plans to cut the enormous deficit I suspect that many are starting to wonder when the recession will ever end. The green shoots of recovery are still not growing and the British economy continues to cause concern among many economists. Perhaps, the Conservatives should take note of what Labour leader Ed Miliband said, cuts but not as big as those of the coalition and over a longer period of time.