Never underestimate the ability of people to be stupid…
I can’t remember an election which has produced a less edifying spectacle than this current one. When Corbyn did his U-turn the other night and decided to grace that dreadful debacle of a BBC ‘debate’ it hit an all time low. The audience was plainly hand picked by momentum. Rudd was quite right to point out that this squabbling bunch of kids is the sort of ‘coalition of chaos’ that could be in power this time next week. God save us!
Mr clever dick Corbyn thought he was so clever wrong footing May but it just made him look stupid, petulant and untrustworthy. How he can bang on about May making U-turns and then make an even bigger one himself is beyond me. I don’t blame May not turning up. At least she kept her word which is more than you can say for Corbyn. The man makes up policy on the hoof, contradicts himself five minutes later, and then changes it again.
Only this morning Corbyn announced that there’ll be no coalition with the SNP if Labour are the largest party whilst almost simultaneously Sturgeon was announcing that the SNP have agreed to join a Lab/SNP coalition.
Explain to me how allowing sick patients to retain their home instead of selling it to pay for their care, and how raising the threshold at which care becomes free allowing you to keep £100,000 in your estate instead of £23,000 can be called a ‘dementia tax’. They’ll be better off FFS!
This has been a campaign where the media has never been so biased. It’s been a campaign where soundbites take precedent over facts. It’s been a campaign of fantasy Corbynomics.
Corbyn confirmed this morning that McDonut, Flabbott and Thornbird will remain in post in his cabinet if he’s elected. A Marxist chancellor, racist home secretary and a foreign secretary that wants to scrap our nuclear deterrent. How the hell can people be stupid enough to vote for that???
And what’s more to the point remember that Corbyn lost a vote of confidence from his parliamentary party and most of his cabinet resigned. So exactly who is there apart from the these three that would be prepared to serve in his cabinet? But what the hell! Let’s put a glossy spin on it!
If the Tories lose their majority, there will be no Brexit. Corbyn has said there must be a deal so all the EU have to do is not give us one. If Labour win you’ll see your taxes rocket, your council tax treble, your job at risk as corporation tax hikes bankrupt businesses and cripple inward investment. You’ll see immigration go through the roof. You’ll see the national debt spiralling upwards as Labour redefine borrowing. You see yourself recategorised as ‘wealthy’ so you can be taxed even more. Labour will attack “the many, not the few”.
In fact even if you hate the Tories, you need to vote for them – because Labour will bankrupt this country and you – the electorate and taxpayer – will be the ones footing the bill…
Now let’s forget all the rash promises in the manifesto and concentrate on the meat of the matter : How are they going to pay for it all? Well, of course, we know the answer to that one. They’re not going to pay for it. You’re going to pay for it.
Those of you who read this blog regularly may remember that I’m a retired Chartered Accountant, so I understand creative accounting but I have to say that Fantasy Corbynomics exceeds any notion I may have had about accounting even in my most creative moments.
Here’s a simple example. You go out and spend £20,000 buying a new car. How much has this cost you and how much cash did you use? Well according to Labour, it’s cost you nothing because the value of the asset you now own means that it’s cost neutral. So how much cash did you get through? Well, none because Labour tell you this is capital expenditure and was funded by borrowing so it doesn’t come out of your revenue budget.
These are the arguments they use for their nationalisation and infrastructure spending plans. They say that renationalising loads of stuff is cost neutral because you still have the assets and that the cash used was raised by borrowing by issuing gilts so they’ve not used any cash either.
This is, of course, patent nonsense. If you buy a new car, it’s true you still have the car but it’s also true you ain’t got the money any more because you spent it. The fact that you borrowed the money to buy it still means that eventually you’ll have to pay it back so you can’t ignore the outflow.
Labour says that apart from it’s ridiculous tax and spend plans, it will borrow £250 billion. Let that sink in for a moment : that’s £250,000,000,000 or a quarter of a trillion pounds.
Let’s assume they raise that money at an optimistic 1.5%. The interest on that borrowing alone would cost £3.75 billion per annum. Where’s that going to come from? Well, out of your taxes or rolled into the borrowing.
The simple fact is that Labour’s plans simply aren’t feasible. They cost too much and there’s no money to pay for it. It’s a fantasy and if they try to do it then they’ll bankrupt this country.
And at the end of the day, they know it – but they’ll never admit it…
This week saw a remarkable set of own goals by the Fourth Reich. Whilst the leaders of Italy, France and der Fatherland were meeting to discuss what the bloody hell to do now that Britain has voted to kick them into touch, our friend Herr Juncker – who they are trying desperately to make the scapegoat for our decision – decided to make a statement saying that all borders would be done away with and that the EU needed to make a stand against nationalism! I bet the Dutch loved that one…
Meanwhile, to quote Harold MacMillan, Britain has never had it so good.
The Confederation of British Industry said its retail sales volume index rose to +9 – its highest since February and a massive increase from -14 in July. Employment hit a record high of 74.5% and the UK’s net wealth hit £8.8trillion.
The latest house prices data showed the industry defying warnings of a housing market crash after Brexit, with shares rising in housebuilding firms. There’s been a jump in reservations by buyers of new homes over the past two months despite some surveys suggesting the so-called Brexit vote could cool the housing market.
In fact, the country that seems to have been hit hardest by the Brexit vote is, ironically, not Britain but Germany. The German economy is slowing markedly and Merkel is trying to shrug it all off as just a summer slump. Confidence indicators in Germany are at their lowest level since 2014. While the FTSE goes up, the German DAX is dropping. In fact, all the indicatorS prove just how much we were being ripped off for by the Reich and why so many prominent German industrialistS desperately Wanted us to remain in Europe.
And with the refugee crisis and Jihadi attacks on the increase, Merkel is reeling under the pressure of her open door policy. The last thing she wanted to hear with an election looming is Herr Junckers views on abolishing borders.
No, all in all Britain is doing alright thank you very much and the Germans are bricking it. Personally, I’m loving it!
Altogether now :
“Two world wars and one world cup