Thursday, November 13, 2008

Fact Check for Gordon...

...oh and Yousuf.

There is a Channel 4 Factcheck brilliamtly unearthed my Lib Dem blogger of the year Alix Mortimer that should be essential reading for Gordon Brown, Havering Yousuf and all other Socialist Labour politicos before they start/carry on [delete as applicable] of misrepresenting the truth, because they know they're unto a loser.


Yousuf Hamid said...

So there's £20 Billion which will be redirected, some in the form of deeper tax cuts, that's a spending decrease!

It's certainly not a stimulus and won't be creating any jobs when unemployment is rising, unless you think unemployment is a price worth payingto keep current borrowing levels?

It's interesting how even the SNP are backing us now, it's just the Tories who have formed this economic alliance with you guys that cuts in spending and revenue-neutral measures will get us through this crisis.

The problem is no other political party across the world agrees.

Stuart Winton said...

Yousuf is right - the Lib Dems' proposals are more about wealth redistribution and different public spending priorities rather than a fiscal stimulus per se.

Any proposal that's largely deficit-neutral is unlikely to act as much of an economic stimulus, whatever the other merits of the policies might be.

Stuart W

Stephen Glenn said...

It's also interesrting that Yousuf and Stuart that you are both sounding very Sarah Palin line in your protesting. Besides cutting the basic rate is only part of the plan the other point is to make sure those who do earn at the upper end do pay their fair share.

The world is in debt Yousuf. Gordon and Alisdair are saying lets up the limit on our credit cards to fight our way out of this, where is any of this going to inspire confidence again? Nobody is able to keep up with their repayments at the moment as it is fiancially, therefore by paying so much of our GDP to other nations to cover our debts that is money that could, should and ought to be allowed for a domestic economic stimulous.

We should learn from opur mistakes not carry on regardless.

Stuart Winton said...

Well I wasn't necessarily supporting Labour's proposals as much as pointing out that the LibDems proposals hardly amount to much of a stimulus per se.

Stephen, it could just as plausibly be argued that it would be a mistake not to borrow to stimulate the economy at the moment, albeit that higher taxes/lower spending would be required in subsequent years to repay the extra borrowing.


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