Austerity Britain Will Hate Its New Government, Says King
TIMES ONLINE: The Governor of the Bank of England was at the centre of an electoral storm last night after saying that the austerity measures needed to tackle Britain’s budget deficit would be so unpopular that whoever wins next week would not get back into government for a generation.

Mervyn King’s opinion, revealed hours before the prime ministerial debate on the economy, came as a respected think-tank predicted that taxes would have to rise by the equivalent of a 6p-in-the-pound increase in income tax over the next ten years.

The Governor’s prediction was made to the American economist David Hale, who passed on the remarks in an Australian television interview. Mr Hale, who has known Mr King for many years, was commenting on debt levels in major economies when he turned to the British election. “I saw the Governor of the Bank of England last week when I was in London, and he told me whoever wins this election will be out of power for a whole generation because of how tough the fiscal austerity will have to be,” he said.

The Times has also learnt that Mr King gave a further indication of the concerns in Threadneedle Street when he recently told a senior American official that the markets would take a very aggressive view if no credible plan was contained in the Queen’s Speech on May 25. >>> Patrick Hosking, Peter Stiff, Richard Partington | Friday, April 30, 2010

Haaretz Editorial Excoriates Israel’s New Government!
HAARETZ: Israel's 32nd government, which was sworn in last night, is destined to fail. In putting this government together, Prime Minister Benjamin Netanyahu has demonstrated sophisticated political skills and impressive tricks of wheeling and dealing, along with a total lack of vision, courage and practical judgment.

The fate of the State of Israel was not on the agenda in forming this government, but rather the lust for power of a handful of politicians and the creation of power for their boss. Israel has received the largest government in its history and one of its most meager. Its makeup bodes ill.

When coalition considerations are the only criterion for forming a government, the outcome is a finance minister with no qualifications in economics, a foreign minister liable to be shunned abroad, a defense minister who has failed at the job, an education minister with no experience in education, a Health Ministry without a minister and a long list of ridiculous ministers and useless ministries. There is also a batch of ministers without portfolio and without a role to play, apart from filling a seat at the cabinet table. Such a giant government sends a message of scandalous wastefulness, with the economy on the brink of a grave financial crisis. A Failure Foretold >>> Editorial | Wednesday, April 1, 2009