Well the inevitables happened this week, with the UK losing its Triple A credit rate from Moodys. I have long warned that this would happen and its been long threatened since its been clear that the governments ill-conceived ideas regarding austerity have merely increased it instead. And of course it is deeply ironic indeed that primary justification for this policy of austerity was to protect the UKs triple A rating!
Of course I would argue that the idea that austerity was justified by a desire to sort out the UKs deficit and protect the triple A rating has always been a load off .BS .or HS these days :DD
The Tories policy has always been to try and find some excuse to cut the taxes to the wealthy and pay for such taxes by cutting anything that benefits the middle and working classes. Its wealth distribution upwards. Even when the economy was booming under Thatcher the Tories followed this principle (private industry can run things better, we should cut spending and privatize public services), when the economy tanked under Major, again the policy was the same (more belt tightening, more tax cuts to the rich to encourage growth).
Why is anyone surprised that they have proposed the same thing again? And surprise, surprise it has blown up in their faces (again!). The only real question is how come the lib dems were so dumb to let them get away with it.