Osborne, it's time for Plan B

A strategy rethink is in order.

Although the reporting cycle is a little unusual – the chancellor George Osborne only made his interim report in December – the parallels with, and potential lessons from, his private sector peers are interesting. Since he took the job (and it was a pretty senior post for a first board position) this young CFO has been struggling to explain exactly how UK Plc would achieve the more difficult half of balancing the books, i.e. growing revenues.

Somewhat predictably, the focus has therefore been on the slightly easier side of the equation, i.e. cutting costs. Thus far this approach seems to have done enough to appease watching investors and analysts. Partly due to problems being experienced by most of its major competitors, and the resulting lack of alternatives, UK Plc has been able to hang on to its investment and top credit rating. But the tough market conditions don’t appear to be easing and the outlook remains bleak. Thus Osborne, like most CFOs, will have to work extra hard to convince those watching that he has a credible plan to get UK PLC’s finances back on track.

Having already had to admit he will miss several key targets he set himself for getting the financial house in order, Osborne now needs to rethink his strategy for achieving growth. As most experienced CFOs would confirm, it is not possible to cut your way out of a slump. A sudden bout of reckless spending would be equally disastrous. But when results keep going against you (and last week’s ONS figures, showing we’re heading for a likely triple dip recession were not what Osborne projected) then it’s time to acknowledge the current strategy needs a rethink.

The rest of this article can be read on economia

Photograph: Getty Images

Richard Cree is the Editor of Economia.

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Piers Morgan struggles with the idea that anyone might ever refuse an opportunity to go on television

The Good Morning Britain host has contradictory beef with Ewan McGregor.

Has it been a while since you heard what Piers Morgan thinks? Are you shaking from withdrawal, refreshing your Twitter feed, unsure whether Kanye is or isn’t a narcissist? Well, fear not, the Mole has a fresh fix for you. After Ewan McGregor dropped out of appearing on Good Morning Britain today, a new take was born. Actors’ opinions are stupid, but also, actors should come on Piers Morgan's show and talk about their not-important views.

McGregor, who was meant to be promoting Trainspotting T2 on the show, tweeted this morning he had cancelled because of Piers’ (obviously half-baked) opinions on the Women’s March. “Was going on Good Morning Britain, didn't realise @piersmorgan was host,” McGregor wrote. “Won't go on with him after his comments about #WomensMarch.”

What truthbomb had Piers dropped to provoke this? That it was unfair women were protesting and where was the MEN'S march. A march for men! As if running our parliament, corporate system, legal industry and creative sector isn’t enough! They should probably all do a walk too! Poor men. No wonder the patriarchy is on its last legs. They must be so weary.

Still, hats off to Piers Morgan. It takes a real personal flexibility to maintain the title of Contrarian Extraordinaire of the Our Glorious Nation. By which we mean that Piers Morgan will think literally anything, if the money is right. Whether it’s writing that Kim Kardashian is so awful she caused someone to have a stroke, or that he loves her for being herself, the man is so darn unpredictable. 

Morgan accused McGregor of being "just an actor", and that he should be “big enough to allow people different political opinions”. Once again, he asked the age-old question: are you an enemy of free speech if you won't go on someone’s early morning television show? This might be alien to Piers, but people don't have to go on television if they don't want to. 

And what if Ewan had appeared on the show chatting about his film? “Happy to appear on my show for your film, but not happy with my opinions? Classic money-driven actor,” the inevitable Morgan tweet would have read. It's quite easy, this Piers Morgan lark. No, it isn't. Yes it is. Cheque please! 

I'm a mole, innit.