Blog Archives

FT hysteria: ‘Corbyn’s platform is a tragic betrayal of Britain . . .’

The Labour Party’s inspiring manifesto is described by FT Journalist Robert Shrimsley (right) as “a self-indulgent and ideologically obsessed clique, holding open the door of Number 10 for Mr Johnson . . . economically ruinous; a manifesto that effectively tells outside investors the UK is closed for business . . .  the cumulative effect is an all-out attack on wealth creators which will deter foreign investment.

Brief comment on foreign policy. “Electing Mr Corbyn would be handing control of Britain’s defences to people who think the wrong side won the cold war”.

He continues: “For all those yearning for more investment in public services, a fairer economy, a saner Brexit and those just desperate to be rid of a government which has deepened the divides in the nation, Labour’s approach is a shameful betrayal“ after conceding:

It may yet be that his potpourri of policies can win enough support among the young, the environmentally concerned and those who have suffered under austerity to stop Mr Johnson. There is no doubt Mr Corbyn has mobilised an activist base as no other recent leader has managed . . . but time is running out”

*

Eleven FT readers criticised yesterday’s FT editorial: “Labour’s manifesto adds up to a recipe for decline”, subtitled Jeremy Corbyn’s hard-left programme will wreck the UK economy

  • However much you disagree with the Labour manifesto – and I personally disagree with much of it, especially on nationalisation – it is an honest, decent and transparent set of proposals, fully costed. It is actually easy to disagree with it in its detail and clarity.
  • This editorial is based on conjecture rather than any facts. The Labour manifesto only looks so radical given the extent of the move to the right the Tories have dragged the country to over the last decade. 
  • It’s been a decade of ideologically driven austerity which has decimated local services with the the only winners a few of the super elite and big companies. If this experience of the last decade doesn’t call for a “radical” change in our politics, whenever will this need arise?

  • Look outside your gated communities and your shiny office buildings – Britain is hurting because of your hubris. We need real change. If that radical change hurts some of you who have caused this decline, good.
  • Those who claim Labour’s manifesto will wreck the economy must consider who, ultimately, this economy is for. When the fifth-richest country in the world cannot feed its children, house its working poor or treat its sick, its economy is already wrecked.”
  • You have foolishly believed the right’s false propaganda that the democratic state is incompetent to radically transform society for the benefit of all (well, most). “Those who claim Labour’s manifesto will wreck the economy must consider who, ultimately, this economy is for. When the fifth-richest country in the world cannot feed its children, house its working poor or treat its sick, its economy is already wrecked.”
  • This article is mistaken in suggesting this manifesto is a throwback to the seventies. Things have changed, not everywhere for the better and this is a radical programme for the future. Time to get the neo-liberal blinkers off.
  • I can’t help noticing there is no mention of the financial transaction tax in the article. Too close to the bone? Or perhaps simply, much too sensible and reasonable for your diatribe?
  • On railway, most countries with successful railway services retain majority public ownership of the system (Switzerland, Germany, France, Spain … just to name a few). One should be agnostic on the model and look at the empirical evidence. Also, the entire contractual arrangements in public monopolies don’t necessarily mean public jobs — again there are different models!
  • Why does this editorial spout rhetoric without evidence?  Without reference to your own data analyses?  The last ten years of deregulation has hugely increased poverty, homelessness, use of food banks, and cut all social welfare and education funding in real terms. AND it has doubled the national debt. Corbyn’s policies will restore the balance between wealth and income as Thomas Piketty and many progressive economists (Wren-Lewis, Stiglitz, Mazzucato, Krugman, Blanchflower) suggest. I expect more from the FT than neoliberal platitudes devoid of data.
  • Socialism my foot – this is social democracy, it used to be quite fashionable, remember?  Corbyn’s spending plans will make the UK a typical European country, next to Germany, in terms of government expenditure. (See FT Nov 21).The more recently fashionable neoliberal model has got us into a right old mess.  Maybe this country can provide an example of the necessary corrective which others will follow – wouldn’t that be a turn-up for the books given our recent embarrassing hopelessness? 

 

 

 

o

Commonsense on HS2 quoted in the Financial Times

Why reduce food production?

The Financial Times quotes George Walton, Tory mayor of Cheshire East, who describes the area as “lovely rich agricultural countryside” which could be scarred by the “absolutely massive project”.

“There would be … public outrage if it went across any of our local countryside, which is rich farming land. We already have the M6 slicing through the area”.

Who will benefit?

Frank Keegan, ward councillor for Alderley Edge. “I don’t see why you should rip up all this countryside and spend £40bn just to take 20 minutes off a journey.”