Labour's local election results would have been an absolute disaster without London

Is this a copy and paste from your PDF revision notes ?

Academic ability is completely irrelevant to his ability to run the country's finances. And almost every politician seems to have done PPE at Oxford. It's like a cheap pass to politics.



I wonder if a lower upper rate of tax attracts overseas investment? I rather expect it does. I also wonder what Labour's alternative to VAT raises would have been.



Poorer people aren't wealth generators. If you want a long-term fix, you fix the machine instead of changing the oil. This isn't to say that I don't partially agree on this point, but it's worth considering the impact of flooding the economy with extra money at a lower level is probably as likely to raise inflation as a small VAT increase.



How does this compare to Labour's record? You'll find that they surfed a far worse housing bubble and presided over economic growth built on massive personal debt, along with, erm, a huge rise in energy bills and big profits for the energy companies...



Good. You do realise that if he did that, the 'cheapest tariff' would be far more expensive than it is now? It would drag those who aren't too lazy or stupid to change energy suppliers up to the same level as everyone else.

So, what would Labour have done?

I am young, educated and aspirational, and don't support Labour. Idk about tolerant though.

There is a positive correlation between relevant education and ability to run the economy. Notice the person who thought that a VAT increase leads to deflation. If people like him ran our economy, where would we be? Therefore there is a causal link between education and the running of the economy. Although many MPs have PPE degrees, many do not specialise in economics in Harvard. Instead we are being led by Cameron and his Bullingdon Club.

How does lower upper tax rate increase overseas investments? Investing is spending on capital by firms. Income tax rates do not directly effect firms at all. All it does is promote richer people from overseas to live in London, increasing price of housing. Don't you notice how all these Russian oligarchs and Saudi sheikhs are hogging all the expensive houses. This worsens the cost of living crisis as demand for housing exceeds supply.

Poorer people are wealth generators. I agree that it is not a long term solution. However, we must think of the short term to get into a recovery as soon as possible. Relatively high inflation is not as dangerous as high unemployment and negative economic growth. In the long term when the employment rate is a lot higher, the fiscal deficit improves naturally due to higher income tax revenue. This is a long term solution.

During the boom, few economists saw the unsustainable growth. Inflation was low in this period so it was difficult to see that the economy was overheating. At least during this period, unemployment rate was low and people could afford housing unlike now. You have to understand that it was the long term implications of the deregulation of banks during Thatcher's rule that caused subprime lending to actually occur. Thus, the seeds were sown well before Labour. Labour's only fault was not controlling the bankers.

Not to mention the rise in price of university places. This disincentives people to learn, making the labour force less productive in the long term and this causes FDI to fall.

This is what the government should have done:
Lower tax rate for bottom 10-20% income (done)
Lower VAT (propose your alternative/explain how this makes up for lost revenue, without speculating)
Keep Royal Mail (the sale of RM was a failure) (really? it's making money now...)
Increase land value tax - this actually stimulates economic growth (I'll talk about this later on) (please do)
Increase spending on apprenticeships and training (train more people to do non-existent jobs?)
Renationalise railways (why?)
Freeze energy prices (explain how this would work)
Lower interest rates to 0.5% (it is 0.5%, not that the government can do this anyway, because Labour gave the power to the Bank of England)
Subsidise our exporter manufacturers (why, if they're not competitive?)
Lower corporation tax for small firms (who pays for it?)
Abolish Zero Hour contracts - these contracts lower consumer confidence as workers are unsure about long term job prospects (and leaves thousands unemployed instead of on zero hour contracts)

I don't understand? I wrote this on my ipad

Edit: was that a joke on my nickname?

Not sure about the educated part. Well not educated in economics at the very least