Corbyn – New Labour helped cause the financial crash

www.politicshome.com/party-politics/articles/story/jeremy-corbyn-attacks-new-labour-over-financial-crash

Well after years of Labour supporters and hacks saying that the last Labour government had no responsibility for the financial crash it now seems that Labour’s new Leader is fessing up to what his party did in government.

For having the guts to say this is to Jeremy Corbyns’s credit but you can see all his many right wing ‘Red Tory’ MP’s spluttering away in disbelief!

Of course, I am sure that Corbynomics would be a disaster in itself but at least he has made the Labour Party come out of its years denial and face up to its responsibilities for its part in the financial crash.

Austerity and Government borrowing – more sobering news and comment

www.bbc.co.uk/news/business-34877455

The BBC has the story on is Business web site and it does not make for optimistic reading.

And on Tax Credit cuts this quote confirms what the Lib Dems have been saying “those who bear the brunt of the planned tax credit and benefit cuts will be people of working age”. It still rankles with me that Labour only voted to delay these cuts in Parliament rather than support the Lib Dem proposal to reject them entirely.

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With thanks to Roy Connell for the lead to this story.

Public debt rising by £4,000 a second

Campaigners claim that public debt is rising by almost £4,000 a second, while £120bn of taxpayers’ money is being wasted every year. Launching its War on Waste roadshow, the TaxPayers’ Alliance (TPA) said “every tick of the clock” was equivalent to putting £3,965 on the nation’s credit card. From tomorrow until Sunday, July 13, the TPA’s staff will join local activists to call on public sector officials to strip out waste from pay, pensions and inefficient spending as they tour across England and Wales. The TPA will claim that local authorities have wasted money by imposing high council tax and diverting resources away from frontline services through pet projects. Among the stops on the roadshow will be the constituency offices of leaders of the three main parties, and the Grey’s Monument in Newcastle, Exchange Square in Manchester and Birmingham Town Hall. During the tour the campaigners will highlight examples of waste, such as the £4,450 spent by Nottingham City Council on an office Christmas tree, or an art gallery in West Bromwich that cost £72m but had to be closed because of a lack of visitors.

The Times yesterday, Page: 23

I have picked up on this not necessarily for the detail of the Times article but because of the headline. I am one of those politicians who is convinced that if public spending is not brought under tighter control it will be the ruin of the lot of us. Whilst at face value there is now a broad consensus to restrain what Government and other public bodies spend, as we get nearer to the General election I am sure the political parties will start to trumpet areas where they want to spend more in an attempt to garner votes. This could be the start of the road to ruin (again) except of course if it is more money for the likes of the NHS and social care which I think we all want to see.

Elections can be dangerous for the economy because of politicians trying to outbid each other. Even the Scottish Independence vote later this year is ramping up spending pledges from the SNP in particular but with others tagging along too. Of course, some parties make spending pledges and then decide having made them they can’t afford to be implemented. The economy may well then be saved from further spending but the pledge that folks voted on is seen to have been misleading. Tuition fees comes to mind as probably the the most obvious one of recent times and it hangs around poor old Nick Clegg’s neck like a millstone.

In my book if you make a pledge you carry it out. Yes, other things may have to go as a consequence but a pledge is a pledge. I do hope the political classes have learned from this as there will be other examples.

But the bottom line (an apt phrase in this context) is the issue here. Economies have to balance their books; we can’t go back to the New Labour days of spending money like water whilst not raising enough in taxes to balance those books. It did ruin us and it will ruin us again if we don’t wake up and smell the coffee. In politics lessons are often not always learned and mistakes often repeat themselves!

With thanks to the LGiU for the lead to this story.

Labour is in favour of what!

I was stopped yesterday my a resident who showed me a Molyneux Ward (Aintree Village, Melling and South Maghull) Labour Party election leaflet and who asked me to read a particular part of it and tell them what I thought it said.

An odd request in some ways but have a look yourself. The convoluted English does not help but the message folks are in danger of picking up is that Labour is in favour of this list of things! And yes, I did the same double take as the resident who had stopped me had done because I also thought it was confession time for Labour!

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What the eye actually picks up is:-

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And then when you think about it

* Tuition fees were Labour’s idea
* Labour Councils have been closing Children’s Centres
* Privatisation of some NHS services was very much a Labour policy when in Government.

I could go on but you get my drift. But watch how you word political leaflets is the important message here!

Ken Livingstone says Labour (and Tory Governments) have long been borrowing too much

www.telegraph.co.uk/news/politics/labour/10451851/Labour-are-cowards-for-racking-up-billions-in-debt-says-Ken-Livingstone.html

The Daily Telegraph has the story, check out the link above.

His analysis of what has happened is frankly pretty much spot on; we have been living on too much borrowed money for far too many years so when the recession hit we were in a poor condition and unable to ride it out without massive cuts in public expenditure.

But of course the present Government is a coalition and one of the partners in that government seems to one that borrowed too much prior to Labour following suit. It wasn’t the Lib Dems so self-righteous Tories must have been borrowing too much as well!