The job as chancellor is a lonely one. You are often the bearer of bad news. Frequently you are depicted as Scrooge. So I do have some sympathy for George Osborne’s position. But it is now three and a half years since the collapse of Lehmans and if I had thought then that Britain would this week plunge into a double-dip recession – and be engulfed in the longest downturn for a century – I would have been appalled. The truth is that austerity is not working.
財政大臣的工作是一份孤獨的工作。你常常要承受壞消息，還往往被說成是守財奴。所以，我的確有些同情喬治?奧斯本(George Osborne)的處境。但在雷曼兄弟(Lehmans)倒閉之時，我想都不敢想在三年半后的今天，英國會陷入雙底衰退，而且要忍受一百年來時間最長的經濟低迷。事實就是，緊縮政策根本不管用。
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