As economy shrinks again, Oakeshott calls for Osborne to be moved to make way for “our A team at the treasury”

by Stephen Tall on July 25, 2012

Here’s how The Guardian reports the call by Lord (Matthew) Oakeshott for George Osborne to be moved from Number 11 in the wake of today’s fresh dire news on the economy:

A senior Liberal Democrat peer has called on George Osborne to be sacked as the chancellor continued to insist the government was on the right economic path, despite “disappointing” official figures released on Wednesday that show Britain is enduring the longest double-dip recession for more than 50 years.

The chancellor stood firm in the face of increasing pressure to rethink his economic strategy after shock figures from the Office for National Statistics revealed the economy shrank by a worse-than-expected 0.7% between April and June.

Labour repeated its calls for a “plan B”, but Osborne was also subjected to pressure from the coalition ranks as Lord Oakeshott, a former Lib Dem Treasury spokesman, criticised the chancellor’s strategy and suggested the Treasury needed a new minister at the helm to steer a new course.

“Any business failing its key objective like this would change its strategy or its management or probably both,” said Oakeshott. “Britain should do the same now with a bold plan A-plus. We need our A team at the Treasury.”

However, Vince Cable has stood by the Chancellor, distancing himself from Lord Oakeshott’s comments according to The Guardian’s Nicholas Watt:

* Stephen Tall is Co-Editor of Liberal Democrat Voice, a Research Associate for the liberal think-tank CentreForum, and also writes at his own site, The Collected Stephen Tall.