Saturday, 27 March 2010

Labour - Mediocrity and thudding dullness

This is what Labour offer as their election pledge card (with my quick comments)

* Secure the recovery
- Keep spending money they don't have

* Raise family living standards
- they are now below 2005 levels
- keep taxes low when they should go up

* Build hi-tech economy
- free internet, then DEBill clampdown at behest of media moguls
- very low investment in technology, less than public debt service cost
- Did nothing for 13 years but lived on North sea oil bubble and casino banking

* Protect front-line services
- Don't cut NHS, but probably need to increase due to ageing population
- How to support with smaller working population?

* Strengthen fairness in communities
- Divide and rule
- If you are poor you still get your say, how and what not clear. If you're rich the poor will be kept under control.

A summary of comments in the Guardian recently was

13 years of Labour and... disaster

* Millstone of debt, public spending at 52% GDP, due to rise by another £500bn in next 4 years to up to £1.4trillion
* Tripartite financial regulation & state of banks
* Savers hit by negative interest rates (rates-inflation)
* Stealth taxes - they invented them
* Bizarre social engineering by stealth
* Feckless personal borrowing encouraged
* Raids on pensions
* House price asset bubble
* Casino capitalism
* Disastrous IT projects - NHS, Passports, ID cards...
* Mediocrity and thudding dullness
* Huge over reliance on outmoded target setting, with no underlying principles or strategy
* Objectionable legislation in the pipeline, undebated. Threat to open mail for HMRC, DEBill to strangle the Internet... trend to assumed guilty before proved innocent

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