Oh-oh Darling!

Darling, our waddling goofball Chancellor of the Exchequer, did today in the Commons what he can do best: lying, blaming the Conservatives, obstructing responsible governance and defending his criminally incompetent record. The man is so dumb it beggars belief.

Bringing down the banking world, the economy at large and presiding over the deepest government induced recession this country has ever experienced, one would expect Labour to tread gingerly in the run-up to the May 2010 elections. Instead, the top buffoons in the country, Brown, Darling and Mandelson restated their claim to lead Britain out of recession, and do so in a better state of the economy than any other G-20 nation, "including Spain." The bombastic claims are false: Spain is not a G-20 country, and the economy is deeply entranched in recession - as the ONLY G-20 member!

The numbers are excruciating: £178bn of new debt (an all-time high, +28% from Darling's 2008 forecast), a budget shortfall of £875bn (an all-time high, +32% from 2008 forecast) and a sovereign debt of £1.46 Trillion (an all-time high, +18%) lead to a downgrade by rating agencies in 2010, an ever accelerating spiral of more debts, additional impediments for economic growth and a disastrous labour market. The message to global investors is clear: abandon Britain. The lying part: contrary to all experts, Darling predicted in 2008 that the UK economy would shrink in 2009 between 3.3 and 3.6 per cent. In fact the contraction amounted to 4.75%. For 2010 the dummy at the Treasury forecast growth of 2 - 2.5%, which he reduced today to 1.5% and expects 2011 growth at 3.5% (experts like the IMF, OECD and High Street banks predict 1.1% for 2010 and 2.2% the following year). Based on such willfully false and irrationally optimistic figures comes a budget forecast that is equally stunning and appalling.

As a convenient scapegoat to cater to the slum trash that still support Labour, the socialists have discovered banks and boni paid for achievements and hard work. Antagonising London's most important source of income - the tax revenues from the more than 260 national and international banks operating in the capital - for the price of imposing a 50% penalty tax on bonus payments that will yield a meagre £440mn in 2010 could lead to a mass exodus of financial institutions in the coming years.

The bamboozled part of the population, the losers who rub their hands over the penalty imposed on banks and brag with their lack of education and degrees, will have to face one day the reality that the £8.8 billion in ADDITIONAL taxes will not be footed by banks and the wealthy, but by average earners and the middle class. Who would give any credence anymore to any figures Darling, Brown & Co throw around in the public? With forecasts turned upside down within months already, who can accept Darling's solemn promise to slice in half public borrowing by 2014 - a time when Labour hopefully had been punished and crucified by voters four years earlier?

The betrayal of British interests in Brussels, where a French commissioner is ready to slap new rules, regulations and hurdles on London as a global financial centre, can also be blamed squarely on the incompetent government. Infrastructure in shambles, public finances teetering on the brink of bankruptcy, inner cities imploding by decay and mayhem of an ever less educated populace that has more in common with animals than human beings: Britain at the end of 2009 is staring into an abyss.

Darling did show a humorous side today: after all the dreadful fessing up and repeats of false promises, he announced a cut of the tax on Bingo from 22 to 20 per cent. After all, Labour policies gambled away the British economy in the past 10 years. Those employed will curse Darling for the price of the cosmetic relief: National Insurance premiums will rise by 0.5% for all by 2011.