Though both David Cameron and George Osborne have gone on holiday, Foreign Secretary, William Hague assures the public that the government is kept fully functioning in the wake of the euorzone debt crisis. Both the prime minister and the chancellor have been criticized for going on holiday as concerns for the global economy grow.
Mr. Hague said that the government was operating 24/7 as the Labour party condemned the coalition for their leadership on the economy. Friday morning, Mr. Cameron spoke to the Governor of the Bank of England, Sir Mervyn King via the telephone, it was revealed.
With the weak US economy and the eurozone debt crisis, worried investors have meant the European stock market has fallen dramatically. With Greece, the Irish Republic, and Portugal already having been bailed out, fears over governments not affording their debts have continued with Spain ant Italy.
Deputy Prime Minister Nick Clegg is also on holiday, with headlines suggesting that the leaders are MIA or AWOL. Shadow chancellor Ed Balls commented on the UK government being “”absent from the global economic debate at this critical time” with “a gaping hole where British leadership should be”.
He added in a harsh criticism, “That is not just the result of ill-timed and badly co-ordinated holiday plans.
“It is symptomatic of 15 months in government when their domestic policies have not only left the British economy weak and vulnerable, but when their contribution to global economic discussions has been zero.”
Labour colleague shadow Treasury minister Angela Eagle said she didn’t “begrudge” the leaders their holidays, but questioned why they were all away at the same time, saying, “I think they could have ensured that there was somebody who has the economy at the top of their job description actually on duty all the time throughout the summer.”
Mr. Hague is currently the most senior minister in the UK, and maintained that everyone is constantly in touch despite being abroad, assuring the public that the government was functioning fine in response to the crisis and other world events. He added that Spain and Italy had to show “credible” plans to combat their debts and stimulate their economies, pointing out that touch decisions had to be made, as he said the UK had shown.