"The failure of a disastrous model of economic growth" is the Chancellor's succinct account in his budget speech of what happened to the UK under Labour. It was matched in Ed Miliband's equally revelatory response that the United States economy was growing under that model, growing under stimulation and 'investment' policies that should have been persisted in by the UK, even as it was brought down by unsustainable state debt.
The United States is the World power. It cannot go bankrupt. It is an enormous economy beside which it is pointless to place the economy of the United Kingdom. As the government copes with the devastating results of hubris, Atlanticist intellectual fawning, and failed policies aimed at the disruption of European integration rather than at the withdrawal of the UK from the Union, Labour displays poverty of understanding, poverty of personnel, poverty of proposals for the sensible pursuit of debt-reduction and economic growth.
All they offer is those worn-out faces with their worn-out policies. "Be like America. The economists we cite have won Nobel prizes." While all around them the people of the UK are hanging on like grim death to their housing and their jobs and their shrinking public services because of vile experiments practised on their economy by those incompetent, bamboozled, economic idiots with a nasty line in state and Party control.
And as for the poor pensioners: pensioners are not a homogenous group. Of course the final salary, comfy house bought for small multiples of annual income on endowment mortgages that actually returned a profit, university free-at-the-point-of-use, free travel pass toting generation should cough up. They are the 'rich' and many are 'rich' on state employee unfunded pension payments. We are all in this together, particularly those who retired at 60 or even earlier and have quarter of a century of largesse yet to finish consuming. If a pensioner hasn't a large enough income they won't be paying more tax. There is a certain schadenfreude in reading of their shock at discovering that this time the gate came down in front of them, and not behind their cohort.
What pension 'raid'? Income is income and tax is tax. Everyone should be handing over for agreed outgoings - the wider the tax base the more government expenditure can be controlled by interested tax-payers. Something on the lines of that old, progressive chestnut 'everyone should use state educational and health services so that they benefit from the sharp elbows of the middle classes'.
Pity there wasn't a wealth tax introduced; inter-generational inequalities are far too embedded.
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