Wednesday, April 14, 2010

City Unslicker's Top Five Labour Fails

A good blog's view of the Labour launch...

1. Full employment - The manifesto says they will create a million new jobs and so restore full employment. Lots of these in health and education, so they really do mean Government increasing its payroll. Also there are 8 million economically inactiv people of working age. So a million does not cut it. Plus of the last million jobs the economy created, 950,000 went to immigrants. Rating: Delusional.

2. Tough Choices - £38 billion in public sector savings, no real plans beyond £20 billionof where these will come from. So no truth at all in what so ever and no way to judge what cuts they are going to make. Does not compute with point one either. Rating; Deception.

3. Deficit reduction - Well not detail at all, except some laughable tax pledges to keep taxing the rich and not raise basic rates. No mention of fiscal drag, eh? No commitment not to raise VAt despite accusing the Tories of it: Rating: Hugo Chavez populism

4. Bank breaking - The Government will break up the banks in state ownership. Thi is not very good news for the taxpayers as the shareholders are going to flee when they twig that any sales will repay Government whilst overall value is hollowed out. Plus Northern Wreck is to be mutualised, haha, no mention of the toxic books hiding on the Government balance sheet. Rating: incredulous.

5. High tech economy - This is to be done with taxpayers money. After all if there is one thing British Leyland taught us, is that it is the Government that knows best, not that bloke who sold Bebo for millions having started with nothing...naah. Tax breaks or innovation zones which may spur investment are not in favour either, instead it is money for distribution by regional quango's etc to favoured lackeys. Rating: Tractor Production Statistics Generation.

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