When Brown and Darling try to present themselves as the safe pairs of hands in this coming time of economic crisis, remember that Brown was the financial whizz who sold Britain’s gold reserves at the historic low for dollars. Now as the dollar goes into freefall the total loss from that idiotic decision (he even told the market to get short before he sold off the reserves) will dwarf the few billion lost by the Bank of England on White Wednesday. Brown’s judgement is neither good or timely.
We have yet to have the final reckoning for Northern Rock, where some estimate that over 20% of the loans are to mortgagees with negative equity. The Fed arranged the sale of Bear Stearns in comparable circumstances over this weekend. It took dithering Brown months to make the wrong decision on Northern Rock. Remember how Lloyds TSB was interested in buying Northern Rock in much the same way Morgan Chase has just bought Bear Stearns?
No Guinness to be found however, ah well… Happy St Patricks!
It consistently tops the Reaganite Heritage Foundation’s Index of Economic Freedom. Judging by reports Vince Cable would love it here – at an off-the-record* post-budget briefing he gave to clients of pollsters ComRes, he lauded Nigel Lawson’s tax reforms and Ronald Reagan’s rolling back of big government. Vince was happily quoting Reagan’s dictum that the most chilling thing you can be told is “We’re from the government and we are here to help you.”
As George Osborne promises to stick to Gordon Brown’s tax and over-spend policies, maybe the most fertile political ground for the LibDems to stake out is to be liberal on economics rather than social democrat. The centre-right German Free Democrats and the Irish Progressive Democrats have been in government more often than not since the late 80s, despite being small liberal parties. Something to think about as we contemplate a hung parliament…
They have also introduced Green tax cuts! Financial Secretary John Tsang also announced last month tax incentives for “Greener” vehicles and a concessionary profits tax reduction for capital expenditure on “Greener” machinery and equipment. Corporate taxes were also reduced this year 1% to 16.5%. Pay attention Osborne at the back.
You can email the show using this link to submit questions.
UPDATE : Curly points out that taxing a Nissan Micra will cost £40 more!
By popular request, watch Blinky’s face:
Guido’s Column | Sun
NUT’s Loony Defence of Status Quo | Jago Pearson
A Dozen Reasons to Be Cheerful | John McTernan
Political Bloggers Are Equal Opportunities Attackers | ConHome
Michael Gove Should Resign | Conservative Women
Sarah Wollaston’s Naming and Shaming of Bloggers | LibDemVoice
Fraser Nelson: Put Your Money on Ed Miliband to Win | Guardian
Guido Fawkes is Too Aggressive | The Times
Ditch Tobacco Plain Packaging | Grassroots Conservatives
What Farage, Boris and Rob Ford Have in Common | William Walter
Labour Spell New Adviser’s Name Wrong | ITV
Rod Liddle on the loony UN sexism special rapporteur:
“There is more sexism in Britain than in any other country in the world, according to a mad woman who has been sent here by the United Nations.
Rashida Manjoo is a part-time professor of law at Cape Town University in the totally non-sexist country of South Africa (otherwise known as Rape Capital Of The World).
Mrs Magoo has been wandering around with her notebook and is appalled by the sexist “boys’ club” culture here, apparently.
I don’t doubt we still have sexism in the UK. But is it worse than in, say, Saudi Arabia, d’you think, honey-lamb? Or about 175 other countries? Get a grip, you doolally old bat.”