Corbyn is economically illiterate Watch

Student 1011
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This guy is insane, all these promises and haven't heard a single way in which he will cost all these ambitious proposals.

- Boosted funding for schools
- Boosted funding for social security
- Re-nationalisation at a cost of £100+ billion
- Scrapping tuition fees
- £10 min wage for 16+ year olds (good luck if you're a small business)
- Building 100,000 homes
- Businesses must pay their workers dividends
- Atleast a third of board members elected by workers
- And the list goes on...

How is this ****er going to pay for this? The answer is we are going to pay for it in 10 years time when the national debt skyrockets and our economy is crippled.

He's blatantly promising the world to gullible lefties who think money grows on trees as a desperate attempt to bridge the massive gap in the polls between him and Johnson.

As a side note, he claims that if he gets into power (heaven forbid) he will negotiate a deal with the EU and call a second referendum on that deal. So he will negotiate a deal and then actively campaign against his own deal, alongside the majority of his party, in the run-up to a referendum.
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xDron3
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I try say this to others. Apparently taxing the rich and businesses is the way to achieve this. It's not like they'd shut up shop and move elsewhere.
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Student 1011
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(Original post by xDron3)
I try say this to others. Apparently taxing the rich and businesses is the way to achieve this. It's not like they'd shut up shop and move elsewhere.
Yeah it's crazy, income tax in the UK is ironically relatively high already (especially relative to the US). Increasing taxes even more is gonna cause capital flight where skilled labour simply migrates elsewhere. Increase taxes on businesses and you simply pay more for the goods those businesses produce, consumers lose out. Increased taxes will affect exporters as they would have to increase their prices and hence will become less competitive relative to other producers elsewhere in the world.

Increasing the minimum wage will simply increase insolvency rates amongst struggling small businesses who cannot afford to pay their 16 year old part-time employee £300 a week. Nor all their other workers.
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Kitten in boots
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Totally agree. What we need is a Conservative government to deliver economic success.

Just look at the last nine years of their governance. We seen the national debt skyrocket, an abject failure to eliminate the deficit, public funds squandered, shocking productivity figures and crap wage growth. We now see Johnson making spending pledges that is estimated to add billions to the deficit.

Despite the economic miracle the conservatives have delivered, the economically illiterate think tank The Institute of Fiscal Studies recently concluded a Labour government and remaining in the EU would be the best economic outcome for Britain over the next few years. What the hell do they know?
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1st superstar
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(Original post by Student 1011)
This guy is insane, all these promises and haven't heard a single way in which he will cost all these ambitious proposals.

- Boosted funding for schools
- Boosted funding for social security
- Re-nationalisation at a cost of £100+ billion
- Scrapping tuition fees
- £10 min wage for 16+ year olds (good luck if you're a small business)
- Building 100,000 homes
- Businesses must pay their workers dividends
- Atleast a third of board members elected by workers
- And the list goes on...

How is this ****er going to pay for this? The answer is we are going to pay for it in 10 years time when the national debt skyrockets and our economy is crippled.

He's blatantly promising the world to gullible lefties who think money grows on trees as a desperate attempt to bridge the massive gap in the polls between him and Johnson.

As a side note, he claims that if he gets into power (heaven forbid) he will negotiate a deal with the EU and call a second referendum on that deal. So he will negotiate a deal and then actively campaign against his own deal, alongside the majority of his party, in the run-up to a referendum.
tbh he it still a little better than Johnson and let's be real ALL the politicians are LAIRS AND CROOKS and I have lost faith in ALL OF humanity since 2016 (the year I believed that the world started going down hill)
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Peter.JohnsonJR
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Then that makes the Tories economically special needs.
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BrexitPopulist
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(Original post by Student 1011)
This guy is insane, all these promises and haven't heard a single way in which he will cost all these ambitious proposals.

- Boosted funding for schools
- Boosted funding for social security
- Re-nationalisation at a cost of £100+ billion
- Scrapping tuition fees
- £10 min wage for 16+ year olds (good luck if you're a small business)
- Building 100,000 homes
- Businesses must pay their workers dividends
- Atleast a third of board members elected by workers
- And the list goes on...

How is this ****er going to pay for this? The answer is we are going to pay for it in 10 years time when the national debt skyrockets and our economy is crippled.

He's blatantly promising the world to gullible lefties who think money grows on trees as a desperate attempt to bridge the massive gap in the polls between him and Johnson.

As a side note, he claims that if he gets into power (heaven forbid) he will negotiate a deal with the EU and call a second referendum on that deal. So he will negotiate a deal and then actively campaign against his own deal, alongside the majority of his party, in the run-up to a referendum.
All of this is possible and realistic. Some if it is indeed desirable.

What’s insane is that he wants the above and to INCREASE immigration. Even keeping it at current levels is too big a strain. Until it gets massively curtailed the above is basically impossible or basically pointless.
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nexttime
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Bojo's been spending like a madman recently - is he any different?
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1st superstar
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(Original post by nexttime)
Bojo's been spending like a madman recently - is he any different?
nope...
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Student 1011
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(Original post by Kitten in boots)
Totally agree. What we need is a Conservative government to deliver economic success.

Just look at the last nine years of their governance. We seen the national debt skyrocket, an abject failure to eliminate the deficit, public funds squandered, shocking productivity figures and crap wage growth. We now see Johnson making spending pledges that is estimated to add billions to the deficit.

Despite the economic miracle the conservatives have delivered, the economically illiterate think tank The Institute of Fiscal Studies recently concluded a Labour government and remaining in the EU would be the best economic outcome for Britain over the next few years. What the hell do they know?
"crap wage growth" - Have a gander at this graph courtesy of the world bank illustrating the avg wage in the UK adjusted for inflation. After the Conservatives got elected in 2010 is seems to slope upward but maybe my eyes are deceiving me.. Could you confirm to me that the average wage in the economy has increased since 2010 by ~£4,000? Even despite the Brexit uncertainty.

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And what have we here? The deficit has simultaneously decreased from 10% to 2%...

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Student 1011
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(Original post by nexttime)
Bojo's been spending like a madman recently - is he any different?
No not in the slightest, personally against his spending pledges. Not a massive fan of him either but he is better than Corbyn IMO, Corbyn's pledges are vastly greater than Johnsons' in terms of cost.
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fallen_acorns
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(Original post by nexttime)
Bojo's been spending like a madman recently - is he any different?
promising spending mostly.. which is just electoral nonsense in the same way that most of labours promises are.

People should really know by now that the sum list of all of what political parties promise when they are not in power to deliver it (as boris is not at the moment) is very different from what they will actually do when they get the reigns.
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fallen_acorns
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To be fair to Labour.. they get blamed for the financial crisis, where actually we didn't perform that bad compared to other nations at the time..

And to be fair to the tories.. they get blamed for slow growth and recovery, where actually we didn't perform that bad compare to other nations at the time..

The issue for Labour is that the global economy is slowing, and there isn't the huge global rush that they can ride as they did in the early 2000s under blair. Unless they get lucky and we hit another revolution in industry/productivity as happened with the internet revolution in the early 2000s, the only two ways they are going to fund their plans are: Tax more, or Borrow more. As long as they are honest about this, I have no problem with them planning on spending, but they need to be honest.. yes you can tax the rich a bit more. But they are the most mobile citizens we have. Many will leave, many businesses will leave, and in the end it will be the middle class who pays. That might be fine - put to the people and say the truth: You will pay more, but you will get X/Y. Just don't lie and say "you won't pay more, only those pesky millionares will.. and you will get more".

As for the torries, they need to be honest and just say "Look, we can't ballance the books because the people of the UK are not actually willing to pay the price of living within their means, and its becoming increasingly un-electable for us to try... so we give up! Lets just spend now, **** our previous convictions, and hope to win a few elections while we can before our kids realise what weve done".
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ByEeek
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(Original post by Student 1011)
Yeah it's crazy, income tax in the UK is ironically relatively high already (especially relative to the US).
You can't really compare. In the US, if you want healthcare you have to buy private which is vastly more expensive than we pay. Their services are also more fragmented and when in the ptivate sector, more expensive.

Trains are vastly more expensive now than when in the public, despite higher than ever piblic subsidies and passenger numbers. They are also just as unreliable.

I am no Corbyn fan but I don't buy the idea that private companies are more efficient or better at providing public services than the public sector. A private company's priority is returning a profit, which in the public sector is my tax pounds.
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Student 1011
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(Original post by ByEeek)
You can't really compare. In the US, if you want healthcare you have to buy private which is vastly more expensive than we pay. Their services are also more fragmented and when in the ptivate sector, more expensive.

Trains are vastly more expensive now than when in the public, despite higher than ever piblic subsidies and passenger numbers. They are also just as unreliable.

I am no Corbyn fan but I don't buy the idea that private companies are more efficient or better at providing public services than the public sector. A private company's priority is returning a profit, which in the public sector is my tax pounds.
I am in total agreement, Thatcher privatised what are known as ‘natural monopolies’ meaning there is literally no competition for some of the firms. But these companies have already been privatised and to renationalise them would be of immense cost. There are other policy routes which can increase competition / limit price increases which are arguably more cost effective.
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ByEeek
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True. But there is a money generating asset at the end of it. I find it ironic that publically owned foreign railways are reaping the profits by running our railways.

It is funny that on the one hand, bringing things into public ownership is bad whilst on the other hand, private home ownership is good.
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