Is Osborne up to the job?
NEW Chancellor George Osborne has perhaps the biggest job of all on his hands as he must guide the economy through choppy waters, while assuring the City and international markets he is up to the job.
He must set out a convincing plan to cut the huge public deficit while not stifling growth and enterprise.
Tough measures, including a possible VAT rise, are likely to be revealed in a Budget held in the next 50 days.
At just 38, Mr Osborne, is the youngest Chancellor in more than a century and he will have to grasp the nettle quickly if he is to gain credibilty in financial circles.
In opposition it was not him, but the Lib Dems’ older and more experienced Vince Cable who was seen as the most credible alternative to Labour.
Indeed readers of TheBusinessDesk.com said as much in our General Election survey last week.
Despite some speculation that Mr Cable would land the Chancellor’s job in yesterday’s negotiations between the coalition partners, as Prime Mininster David Cameron’s closest political ally, Mr Osborne was always likely to be handed the keys to Number 11 Downing Street.
Now the real work begins.
Before Nick Clegg’s impressive performance in the TV debates, the Lib Dem’s star performer was former economist and Treasury spokesman Vince Cable.
Although many people’s choice as Chancellor, Mr Cable will have a major role to play in the Cabinet, where he is set to be given responsibility for business and banks.
His official title has yet to be confirmed.
Blog Post: Marc Reeves poses four questions
from the West Midlands for the new administration
