Economists across the Atlantic concerned about lasting effects on the US economy of Mr Osborne’s decision to holiday there.
Economic experts are expecting a summer holiday boost to the UK economy after the chancellor George Osborne’s decision to leave the country and take a holiday break abroad from running it into the ground.
Figures suggest there could also be a respite in the downward spiral of the UK economy due to the lifting of what economists call ‘the Curse of Cameron’ after the prime minister also left the country to take a family vacation in Spain.
However, economic experts are fearing the Spanish economy may worsen significantly after it was revealed that Mr Cameron could be spending as long as two weeks in the country.
Concerns for the Spanish economy were heightened even more after it was revealed the deputy prime minister Nick Clegg could also be holidaying in the country at exactly the same time as Mr Cameron.
But a spokesperson for number 10 tried to calm concerns in the Eurozone by giving assurances that the prime minister had no intention of ruining the Spanish economy while he was there:
The prime minister intends just to drink some wine and relax so there is absolutely no danger of him bringing any kind of omnishambles with him to the Spanish government whatsoever.
Economists in the US however are concerned about the long-term adverse effects on the economy of Mr Osborne’s visit, with figures showing his decision to holiday there could already be having a negative effect on US unemployment and growth figures.
A senior US economist at BNP Paribas in New York, said she now expects US growth to be considerably down from previous forecasts of 2.4 percent, after it was revealed Mr Osborne would be spending as long as 10 days in California for a family holiday:
We keep hoping that we’re going to turn a corner and move into a stronger phase of recovery, but after Mr Osborne’s decision to come here we are considerably more pessimistic.
The UK has already seen that everything he goes near goes tits up in record time so we’re hoping he’ll keep away from anything to do with the economy while he’s here. Why couldn’t he go on holiday to Venezuela or Brazil or somewhere and risk putting their economies in danger instead?
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