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(not satire – it’s George Osborne!)

George Osborne chose a new housing development in London yesterday to give his speech on how the economy is ‘turning the corner’.

The chancellor said the development – One Commercial Street – was “a physical reminder” of what has been happening to the economy.

Well, he’s certainly right about that.

Because the cheapest private apartments for sale at One Commercial Street start at £750,000 with penthouse suites costing millions.

And the 70 units which have been sold to a housing association  – included because of Section 106 affordable housing requirements – will be in a separate part of the building and will have a completely separate entrance round the corner and well out of sight of the exclusive entrance used by the well-heeled, mainly foreign private tenants.

Yes – Osborne’s absolutely right about One Commercial Street being a physical reminder of the economy.

A rich minority living lives of luxury increasingly cut off from the majority struggling desperately to make ends meet – a direct result of Osborne’s economic policies of the past three years.

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For more on the symbolism of Osborne’s speech and One Commercial Street, have a look at this excellent blog post by Jules Birch:

Osborne’s symbol of turning a corner

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