Coalition will be judged on actions – not words
As you’d expect, Messrs Clegg and Cameron have been extolling the virtues of the “new politics” (aka the Lib-Con coalition). But the acid test will be what the Government actually does, rather than what it says. Rhetoric is valuable for creating mood music and managing expectations, but actions are ultimately what count.
We know that Government spending is going to be cut and recognise that reducing the budget deficit and national debt is THE priority. However, the trick will be to do this without derailing the economic recovery by stifling growth. If George Osborne and his team can pull that off, they will have earned their political spurs.
My yardstick for judging the Government’s success in managing the economy is its sensitivity to the needs of small and medium-sized businesses (SMEs), which comprise the engine of the UK’s economy. If this sector is able to grow during the tough times that lie ahead, the UK will finally emerge from this recession leaner and fitter than before. I wish Osborne & co well in this challenge.
