The downgrading of Britain’s credit rating from AAA to AA1 by the ratings agency Moody’s might not be an economic disaster for the UK, but it is a political disaster for George Osborne.
I think even the most loyal Conservative would find it hard to argue with my assertion that he’s proven to be a dreadful Chancellor of the Exchequer and one which doesn’t come out well when compared with the last Tory holder of that office, a certain Ken Clarke.
From the bungled budget to the down rating, Osborne appears to go from one self-inflicted disaster to another.
So, why is he still in office?
It surely couldn’t be because he’s a life-long friend of the Prime Minister, could it?
Or maybe Cameron has taken seriously the long-held view that losing a Chancellor (either through resignation or sacking) means a PM’s own reputation is tarnished.
That may be to some extent correct, but can Dave really keep someone in such an important office who has so manifestly failed?
What the British economy needs is growth.
I’d argue it needs an economic stimulus and shovel-ready infrastructure projects.
Osborne’s austerity agenda has been shown not to have helped the economy... Indeed, it could be argued it has hurt the economy.
So, clearly, what we need is a Liberal Democrat Chancellor.
Now, I know that, sadly, this is unlikely to happen because the Tory backbenches would no doubt holler blue murder if a Lib Dem was promoted to this decision, but I think Cameron should consider it.
It could make political sense.
After all, with a new (Lib Dem) Chancellor the Government could legitimately chance course.
Think about it... If the Government changed course, and it didn’t work out, he could blame the Lib Dems.
But, I believe moving from austerity to a proper growth agenda would work.
We need a new New Deal.
We need to inject confidence into the economy.
This Government - the Tory side of it - seems to revel in demonising the poorest in our society, in turning one section of the community against another.
This is a disgraceful way to behave.
We need to bring people together, not tear them apart.
We need change. We need growth.
We need to be rid of Osborne.
We need a Liberal Democrat Chancellor.
Or, as a compromise, maybe we need the return of Ken Clarke.
Mathew Hulbert is a Liberal Democrat Borough and Parish Councillor in Leicestershire and is on the Executive and Council of the Social Liberal Forum.