The ministry of truth

I got an email from George Osborne the other day. He made three claims two of which are definitely misleading and the third of which might be right.
...a long-term economic plan to clear up the mess Labour left behind. We can see it is working:

• At 5 per cent of GDP, our deficit is down by a half
• 1.75 million more people have the security of a job
• Last year, Britain was the fastest growing major advanced economy

So, what's the problem? Well, the deficit as a fraction of GDP which is falling. We should actually be seeing the deficit grow in order to counter-cyclically rebalance the economy. A lower deficit in a time of reducing GDP is generally a removal of the means of recovery from the economy. And, half compared to when? From when the last government was wisely propping up the banking sector to prevent millions of ordinary people from having their money wiped out as their banks went belly up? That would hardly be a good comparison point, now would it?

Security of a job? Has he looked at the kinds of jobs referred to in the statistics? I rather suspect not: zero hours contracts for example would hardly give the reassuring feeling that job security usually connotes. Also, part-time jobs on minimum wage are hardly security in the kind of sense that he would like us to hear the word. I don't think he has any idea of the kind of fear and anxiety such employment breeds about unexpected circumstances like the breakdown of a washing machine or sudden need to buy new shoes for a child. Precarity is no security and is not the kind of employment we should be seeking to grow.

It remains to be seen whether the growth figures are more than a blip ...