Labour’s Spending Plans Are “Physically Impossible”

So says Paul Johnson of the IFS at least, telling us that it’s simply not possible to ramp up public spending by £50 billion a year rapidly.

He’s right of course:

However, Mr McDonnell was committed to far higher spending, Mr Johnson said. “The capacity of the public sector to spend that effectively and in short order must be in doubt. There is next to no chance that investment spending could sensibly be increased by more than £50 billion a year within a year or two,” he said.

See More

John McDonnell Thinks A Labour Victory Would Increase The Value Of Sterling

In terms of the massively deluded concerning economics as we all know John McDonnell is one of life’s winners. Anyone who can possibly observe the past 40 years and decide that capitalism as failed is clearly, obviously, either nuts or ignorant. True, he saw through the Senior Lecturer but still.

He is though insisting that a Labour victory, with those associated policies of uncompensated nationalisation, yet more of the country’s investment running through government, will raise the value of sterling.…

See More

The Confusion Of The Modern Left

Economics isn’t everything of course but when we’re discussing the structure of the economy it’s pretty much everything. Which makes the British left rather more than usually confused. For they’ve really not grasped the subject at all:

There is a dawning recognition that a new kind of economy is needed: fairer, more inclusive, less exploitative, less destructive of society and the planet. “We’re in a time when people are much more open to radical economic ideas,” says Michael Jacobs, a former prime ministerial adviser to Gordon Brown.

See More

John McDonnell’s Stalinist Demand That Vedanta Must Be Delisted From The London Stock Exchange

John McDonnell, the Shadow Chancellor of the Exchequer, is demanding that Vedanta be delisted from the London Stock Exchange. Really, that’s rather a Stalinist move, isn’t it? The police in India kill some people – that’s the state acting note – therefore private sector shareholders in Britain must be punished?

Well, yes, obviously so, if something wrong happens in India it must all be the fault of the capitalists in London, mustn’t it?

Tamil Nadu said on Thursday that it was seeking a permanent closure of a big copper smelter run by London-listed Vedanta Resources after 13 people died in protests demanding the closure of the plant on environmental grounds.

See More

Roger Daltrey Is Wrong – Jeremy Corbyn Is Not A Communist, Not Bright Enough To Be

Roger Daltrey tells us all that Jeremy Corbyn is a communist and he’d do better to just ‘fess up to that fact. Jezza shouldn’t in fact do so for it’s not true. He’s not got the brain or the commitment to be an actual communist:

THE Who frontman Roger Daltrey has let rip at Jeremy Corbyn – saying the Labour boss is a “communist”.

The singer accused Mr Corbyn of trying to trick voters by posing as a more moderate left-wing figure.

See More