Cuts v QE: does the chancellor's left hand know what the governor's right hand is doing?

Can someone not drop the hint to George Osborne that Mervyn King and the jokers at the BOE should be removed and replaced with people who are competent? Mervyn King presided over the housing bubble and reckless borrowing and it is hard to take anything he says seriously. Printing money is a short term fix creating longer term problems and will make the markets nervous and less likely to invest in the UK and get us out of the mess we are in.

Tight fiscal, and loose monetary, policy is a feasible combination to boost private sector activity, as long as it does not lead to too much inflation and risk of excessive sterling weakness (or possibly the other way about).

The govts deficit cutting plan will not "put 500,000 people out of work". I have it on good authority that this is a plan over 5 years and the civil service is 6m strong. Roughly 164,000 retire each year and of these 100,000 wont be replaced. That's your 500,000 reduction. Not redundancies.

So what you're saying there, anonymous, is that there will not be any public sector redundancies? Literally not a single one (connected to cuts at least).

Aside from the fact that this is already false (because a lot of redundancies, including a few involving friends of mine are already going ahead)...even if we ignore this and start from today...I look forward to testing your hypothesis.

The way QE is being implemented is totally economically incorrect, as the BOE is creating its own debts for the future by investing in gilts, when it should have been putting the money into British- owned company shares and corporate bonds. The government trying to reduce its debts while the BOE has flooded the market with cheap money and reduced the value of our currency, is an anomaly and cannot be guaranteed to work. Strengthening the capital base of particularly industrial and technical British companies can only benefit and create employment and wealth for the country at large without creating inflation.

I'm not surprised Anonymous 1 hides his identity since his claim is so ridiculous. Obviously if there is a cut of 500,000 jobs that's the number of jobs lost to the economy, 500,000 fewer wages being spent keeping others in work. And of course it's ridiculous to believe that public sector workers are completely interchangeable as they would have to be to satisfy his theory.

Come back to planet Earth Anonymous 1 and tell us who you are.