+++ Labour’s 18.5% VAT for 2011 Tax Bomb +++ +++ Document Signed by Treasury Minister Stephen Timms +++

click to enlarge

Full document below

Labour’s VAT Bomb

Nigel Griffiths Makes An Idiot of Himself

The Tories just packed the Commons debating chamber to win a vote to force the speaker to allow an emergency debate on the PBR tomorrow – something that Labour were resigned to, but keen to avoid since it has gone down like a plate of cold vomit with the public.

Nigel Griffiths jumped up after the vote on a point of order to the Speaker; “Is it in order for MPs to pile into chamber…” he began before being drowned out with laughter from all sides.

Yes, a Labour MP thought it might be out of order for MPs to do their job. Desperate.

Research: Kaiser was Less Expensive Enemy than Brown

The Taxpayers’ Alliance has done the research leg-work and confirms that Brown’s debt bubble is twice what it cost to defeat the Kaiser.*

Total Debt increase 1914 – 1919 (2007 value):

£255,106,544,018

Total Debt planned 2008/09 – 2013/14 (PBR):

£512,000,000,000

(For full methodology, see Sources & Methodology)

*They are trying to find reliable data for the cost of WWII at the moment.

“If Unemployment Reaches 3 Million Most Will Do Well”

Norman Tebbit? Norman Lamont? Nope, this is current. 

The exact quote is

“Even if unemployment reaches 3 million, that still leaves 90% in secure jobs. Most people will suffer not at all in this recession: on the contrary they will do well…”

Step forward friend of the down-trodden people, the Tuscan redistributionist, three house owning, multi-millionairess toff, yes, you guessed it, Polly Toynbee – here.

People Will Bail Out of Bail Out States

Jack Thurston, a former special adviser to Gordon’s enforcer Nick Brown, and one of early New Labour’s more cerebral types, writes in this morning’s Wall Street Journal of the perils ofA Permanent Bailout. Even a perennial optimist like Guido wonders if we are finally seeing the the delayed end of the twentieth century era of Anglo-American global dominance as predicted by the CIA. The economies of the U.K. and the U.S.A. are being burdened with government debts of epic proportions, our children (and their children as well) will be indentured tax slaves.

Hyperbole? The government bond markets will enslave the citizens and subjects who pay the taxes that service their demands as surely as feudal barons demanded their lands were ploughed for their table by serfs. It is stunning that Brown’s policies have cost HM Treasury, in real terms, more than it took to defeat the Luftwaffe and the Wehrmacht. The debt obligations of the state will be £2 trillion within a few years, Gordon ignores the unfunded pensions of his bloated public sector bureaucracy and admits to “only” £1 trillion. The long term consequences of a debt burden as great as this are that Britain will have a permanently low growth economy. If, as is most likely, predominantly foreign investors hold government bonds, higher taxes will reduce the available capital which can be put to productive use in the domestic economy because the interest paid is exported. That is if they are not too worried about Britain going bust to invest at all. The chart above (click to enlarge) shows the cost of insuring in the credit default swap market against the U.K. government going bust is nearly triple the German rate. British Gilts are becoming the junk bonds of the G7.

Do people want to live in a country designed by Gordon Brown, as cheered on this morning by Polly Toynbee, Will Hutton and Roy Hattersley? Is there a prospect on the horizon of a radical government which can arrest the inevitable decline? Is there a Thatcher-like political leader who can turn around the super-taxer-tanker of state? Guido suspects a lot of internationally mobile people will be weighing up the prospects and possibly heading for the exits soon.

UPDATE : From The Times this morning; “In recent years, thousands of educated Australians have come to the UK. Immigration has been the start of a career, not a gap year, it adds. So there should be some alarm at the fact that they are heading back home in ever larger numbers: 2,700 a month compared to 1,750 a month in 2005. This is largely a vote of no confidence in the old country.”

Australia runs a budget surplus, has paid down the national debt in the good years and welcomes skilled migrants. Form an orderly queue.

BBC Business Reporting Was Pathetic Yesterday, Again

The FTSE 100 was up 9.84% and the BBC’s Robert Peston told us yesterday that was because the City liked the PBR, this was repeated by whatshisname the other business reporter on the News at Ten.

Well the Germans must have like it more because the Dax was up 10.34% and the French Cac 40 was up 10.09%. In fact around the world stock markets were up. Gordon is the Global Saviour!

Nothing to do with the bail-out of the world’s biggest bank Citigroup by the yanks? BBC business reporting* is below second-rate, if it was your only news source you would be worse than uninformed: you would be misinformed.

*To be fair, Guido has knocked Newsnight’s reporting in the past but it was pretty thorough last night, covering the issues realistically.

Osborne Wows

ConservativeHome calls it an outstanding performance by George Osborne, Guido has just got off the phone with Tom Clougherty, policy director at the free market think-tank the Adam Smith Institute, he described it as “the speech of his life”, Matthew Elliot at the Taxpayer’s Alliance has just crackberried over “he passed the test with flying colours. There is still a question mark over providing a coherent alternative plan, but this is slowly taking shape, and we’ll no doubt see more details in the coming weeks.” Even the insouciant worldly, non-partisan cynic Sir Michael White says he “did well enough from the sound of it“, which must mean that Darling was in difficulty.

Guido’s co-conspirators were impressed in our live poll during the exchange – and they have been pretty disparaging of Osborne over the last few months.

Some of the co-conspirators comments give a flavour:

  • “Osborne was brilliant. Wiped the f*****g floor with that lying twat Darling. Brown kept smirking but looked very uncomfortable. The chickens are coming home to roost.”
  • “thought Osborne did very well, thought he was going to mess it up. Labour front bench look flustered..”
Derek Draper joined the Live Blog, as did 1181 others with him providing fodder for a couple of thousand comments. Very sporting of Derek to provide us with some sport. Will we see you for PMQs Derek?

PBR Live Blog Here

+++ Derek Draper Will Be Here for the PBR Live Blog +++

Just got a text from the Derek asking if he’ll be welcome, on the live blog, have assured him you’ll give him a warm welcome. Go ahead Dolly, rapidly rebut away. This could be more of a laugh than

[…]

+ READ MORE +

Boris is Right, Tories Wrong. London Should Be a Shining City

Before the Mayoral elections Guido posted the article below, predictably it got much abuse. Boris is now advocating an “earned amnesty”. It is the right thing to do. Regularising people and expanding the tax base by bringing them in

[…]

+ READ MORE +

Gordonomics : Higher Taxes, Nationalisations, Property Price Collapse, Printing Money, More Government Borrowing, Economic Bust

Guido is not a fanatical gold bug, but in times of crisis gold is the timeless refuge. This is the gold/£ price chart for this year, showing gold has proven to be a sound investment. As Gordon takes the Mugabe

[…]

+ READ MORE +

Rich & Mark’s Monday Morning View

[…]

+ READ MORE +



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Adam Boulton says David Cameron campaigned as a neo-Thatcherite…

“The manifesto programme, with its sell-off of social housing, clampdown on public sector strikes, EU in/out referendum and benefit cuts, represents a much more traditional, neo-Thatcherite conservatism than that offered by Cameron Mk 1…”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Arise, Sir Eric! Arise, Sir Eric!
ENERGY MINISTER TOTTY WATCH CONTINUED ENERGY MINISTER TOTTY WATCH CONTINUED
Stella Grills Dimbleby on Sexuality Stella Grills Dimbleby on Sexuality
New Select Committee Chair Allocation in Full New Select Committee Chair Allocation in Full
Miliband: Don’t Move to the Centre Miliband: Don’t Move to the Centre
Insta-Bunga! Insta-Bunga!

GREEN PAEDO RING RUMBLED GREEN PAEDO RING RUMBLED
BIONIC MAN CONTROLS TWO ROBOTIC ARMS WITH HIS MIND BIONIC MAN CONTROLS TWO ROBOTIC ARMS WITH HIS MIND
TECH NOSTALGIA: LYCOS SELLS ITS PATENTS TECH NOSTALGIA: LYCOS SELLS ITS PATENTS
BIN LADEN PLANNED JIHAD ON CLIMATE CHANGE BIN LADEN PLANNED JIHAD ON CLIMATE CHANGE
CAMERON’S UBER PALS SQUARE UP AGAINST BORIS CAMERON’S UBER PALS SQUARE UP AGAINST BORIS
Andy Burnham: “I Would Follow David Moyes Textbook” in Office Andy Burnham: “I Would Follow David Moyes Textbook” in Office
BBC CLIMATE FORECAST THREE YEARS OUT OF DATE BBC CLIMATE FORECAST THREE YEARS OUT OF DATE
UKIP Latest: Suzanne Speaks UKIP Latest: Suzanne Speaks
24 Hour Drinking: “The Best Thing the Labour Party Ever Did” 24 Hour Drinking: “The Best Thing the Labour Party Ever Did”
Fight! UKIP’s Steven Woolfe v Jean-Marine Le Pen Fight! UKIP’s Steven Woolfe v Jean-Marine Le Pen
Hilton’s Hipsters & High Tories Hilton’s Hipsters & High Tories
Tech City Chair Runner and Riders Tech City Chair Runner and Riders
SHIELDS SHUFFLED UPSTAIRS AS NEW INTERNET SAFETY MINISTER SHIELDS SHUFFLED UPSTAIRS AS NEW INTERNET SAFETY MINISTER