Here is some sage fiscal advice from Polly Toynbee of the Guardian:
So if Gordon Brown believes in a new world order with new rules, here's his first test. If he can't do this here, then his global rhetoric will look thin indeed - and it's no use announcing some piffling sum and pretending it will do. If he dares borrow serious money to make a difference, expect a howl from Conservatives and their press. But it would pose a dilemma for them. Could Cameron oppose saving hundreds of thousands of young people? He would say, with some reason, that Britain shouldn't be in such debt anyway - but surely he'd have to support a new deal for the young.
I wonder whether Polly bothered to look at the UK's public sector accounts before she advised Brown to go on a spendfest? Does she really think that a fiscal gap of 10 percent of GDP is a "piffling sum"?
Apparently, Brown needs to spend in order to help the young. It is doubtful whether young people would benefit much from Brown's huge fiscal deficits. However, it is certain that today's young will end up paying for them.
9 comments:
Poor deluded polly
Ms. Toynbee is a champagne socialist par excellence.
She believes that she deserves a salary which differentiates her from the hoi polloi, and she believes in acquiring capital assets.
She does not believe, however, 9j fiscal prudence by the state, thus leaving more in the hands of the unenlightened she claims to defend. To her, that's a a bourgeois value stemming from a flawed and ignorant understanding of the subtle science of centrally managed economics.
If we all just stopped arguing with her and her friends, and then waited long enough, we'd see her proved right.
Her own personal capitalism? Well that's just 'playing the system', as all 'enlightened' people do whilst waiting for the inevitable rapture.
Stop being such a prole, and put your shoulder to the wheel to push us into the glorious future.
The government doesn't need to make any effort to be providing a fiscal stimulus. Just doing nothing will provide a counterbalance to falling private demand (through increased public sector wages etc.). This will of course push up borrowing.
It would seem irresponsible to be adding to the debt total with additional spending. Is this debt mountain going to be holding the country back for decades to come?
Neil
I stopped listening to Polly ages ago. The flaming she gets at CiF is sometimes worth a glance, if one really has nothing better to do.
I wonder how much she'd be worth rendered down. Not your best quality lard, but good enough for axle grease, export grade, and plenty of it. Should help the young folk along a bit. I think I'll send her an email.
Someone should post him a copy of the "Pink Book" with a postit note attached... saying:
"You've got to ask yourself one question: Do I feel lucky? Well, do ya, punk?"
The state can correct its deficits by confiscating property held overseas by British nationals.
....or pensions
What's really worrying is that my wife looks more and more like Polly Toynbee each day. And love making is becoming more and more like an act of vengeance for me.
I should have married that nice air hostess. She looked like a cross between Jayne Seymore and Lorraine Chase - oh no ! Too much like Carol Flint.
I should have stayed single !
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