Dumb question from the BBC Pest

I quote from the BBC Business Splutterer:

Gilt sales this year are forecast to be £220bn - way above all market forecasts.

There will be a big gulp from investors.

Why is the Treasury's borrowing need so much greater than was expected?

Answer: BECAUSE AS THE IMF SHOWS AND TODAY'S BUDGET PROVES TREASURY FIGURES CANNOT BE BELIEVED - NOBODY KNOWS WHAT THE BANK BAIL OUT WILL COST!!!!(But 60 billion wont come close).

Peston should have stayed tuned to the BBC Parliament Channel to hear the whole of John Redwood's first rate speech, linked here, titled "The Damian Mcbride Memorial Budget"

A Sane view of the G20

John Redwood MP has commented on Conservative Home's Platform, linked here, some quotes:

The myth of the summit was that all the leaders needed to agree and to do the same thing. What we want is for the countries involved to do very different things, for their own crises are different. Germany, Japan and China need to borrow and spend more, to import more, and to save and export less. The US, Spain, Ireland and the UK need to do the opposite. They need to export and save more, and to borrow and import less.

Their solemn declaration that they will not pursue protectionist policies is unlikely to be followed in practice. Many countries are now trying to devalue their currencies to gain a competitive edge. Many countries are offering subsidy to their financial and their industrial sectors. Some are even looking at ways of buying home produced at the expense of imports and examining tariff and non tariff barriers to foreign goods and services.

An Alternative Conservatism

I have now run four posts in the series "Crisis for Conservatism" I could of course continue to fifty or a hundred but the point is made and Douglas Carswell MP on Centre Right has added much extra detail, linked here.

My four posts mentioned random disasters over the past week first the BBC Question Time programme refusal to pledge English residents would be treated as others over prescription charges, second the shameful lack of background knowledge of the troubles and an incomprehensible lack of basic common sense over terrorism shown by the shadow Northern Ireland Secretary, third the gross incompetence all round of David Cameron and the disaster his planned further shirking of his duty will certainly incur and fourthly the failing of the Conservative Home blog itself to faithfully report the words of one of its own front bench team as printed in Hansard.

So to be positive instead of negative what is to be done? My present views which will not be palatable to the party are as follows:

1. David Cameron and Lord Ashcroft must resign.

2. Deputy Leader Hague (using the known flaws of the Leadership election process and if necessary the broken promise over the EPP which swung many votes) should declare David Davis MP the new Party Leader.

3. Davis should open negotiations with the Electoral Commission to avert the bankruptcy of the party due to the Ashcroft fiasco. Pressure may be necessary to prevent the Commission bankrupting the main opposition party at a time the country is plunging towards an economic abyss.

4. The new Leader of the Opposition should request the Queen re-calls the ratified Lisbon Treaty pending the promised referendum.

5. John Redwood be appointed Shadow Chancellor of the Exchequer.

6. William Hague be instructed to arrange a parliamentary majority for a change of government before the summer recess.

Absent some similar steps the Conservative Party would be better dead. (I have repeated these suggested steps as a comment to Mr Carswell's Centre Right comment).