Monday, 14 June 2010

The Not So Independent "Office for Budget Responsibility"

First the Bank of England was taken out of democratic control. Now the government's budget has followed.

If it were not bad enough that the "independent" (listen to how many times the Tories say it) OBR is full of ex-treasury staff and political advisors; they are all appointed by the government anyway. That's almost as stupid as if Israel were to carry out the investigation into the boarding of . . . What? They are?

Perhaps the most disturbing element of the creation if this department, no matter how it s staffed, is the removal of governmental control over its own affairs. This office is the ultimate form of monopoly capital having undue influence over democratic institutions. Big business now not only decides what interest rates it wants to pay, it can now force (and lets be honest, the Tories will go along with whatever big business tells them) the democratically elected government of this country, to cut whatever it deems best for business.
William Hague was terrified by the recent suggestion that the EU should be consulted and even approve the budgets of member nations. How dare the foreigners try and tell us what is best for our country! But when it comes to selling our sovereignty to big business, well we're all for that. After all, we mustn't upset the markets.

Is it any surprise that the OBR is urging stringent cuts in public spending? Could it be that the office is trying to prepare us for some forthcoming government initiative? Are there any on the horizon? Oh yes, the "emergency budget" is out next week. Now that really is the best example of independence I can think of.

Now am I just scaremongering? After all I am a crazy commie. Just bear one thing in mind. When Greece announced its last round of austerity measures, the value of shares in French banks ROSE BY 24%

And where is the evidence for the over-arching, free market, neo-liberal, hegemonic control of us mere slaves to the machine. The OBR, if you listen to the bit of the news reports when the Tories aren't speaking, actually said that the deficit isn't as bad as Labour predicted, and that Labour were being overly cautious. What's that? Labour weren't selling the souls of our children to a lifetime of debt? Who'd have  thought it!

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