The Business Secretary, Vince Cable, says that politicians have yet to properly prepare the general public for the true scale of the coming economic pain and drop in living standards.


Speaking to the Guardian Mr Cable, one of five LibDem ministers in the coalition cabinet, said that the amount of time it will take and the size of the economic problem should be communicated more clearly.

Saying that 'Britain is no longer one of the world's price setters' he pointed out that we will now have to take our prices from however countries like India and China set them. 'It is painful' he said but we would have to live with it and it was up to the politicians to get this massive problem across to people.

The business secretary seemed to indicate that people are asking why not 'business as usual' because no-one has told them the true size of the problems. 'As a country we are going to have to go through some very big major structural changes, but if the dominant debate is 'Well, what is the problem? Why are we all doing this stuff? It is not really necessary.' Of course it makes it more difficult.' he said.

He put some figures on this saying that not only had the British economy shrunk by 10% below trend at 6-7% but also that sterling would in the future suffer from a 20% devaluation.

Part of the blame for this miscommunication he laid at Labour's door for being in denial that their 'golden age' was actually built on a housing bubble and debt.

On the coalition response to the economic situation he said that far from being locked into cuts there was a lot of flexibility built into their policies and that "If the economy slows down, the deficit temporarily has to rise to take account of cyclical change, flexibility is built in".

So what he's saying to us is nothing new really, politicians are, as ever, not being straight with the public. Well apart from Vince Cable it seems.

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