Wednesday, November 26, 2008

Loans for Lordships Converted Into Donations

At first glance the just released Electoral Commission figures show that the Conservatives raised £5,315,271 (over 20% of which came from taxpayer subsidy) and Labour raised a total of £7,649,747 in donations.

Actually when you break it down it looks like Lord Sainsbury wrote off £2,511,808 in loans and interest, converting the debt into a donation, Sir David Garrard did the same for £352,278 and Sir Gulam Noon likewise for £307,576. J K Rowling put £1 million of her Potter profits into propping up Labour. The rest of the money came from the unions apart from a donation-in-kind from Saatchi and Saatchi for their crap “Not Flash, Just Gordon” campaign.

UPDATE : Contrary to the Press Association report which all the rest of the media (both broadcast and print) are using for their reports, the total figure for loans converted is not £2.25m. It totals £3,171,662 in loans and interest written off from Lord Sainsbury, Sir Gulam Noon and Sir David Gerrard – the latter in the form of a partial conversion of his loan and interest into a donation. Guido just confirmed this with the Electoral Commission. Don’t they check their sources? Guido 1, Big Media 0.

Boulton v Brillo

Have just watched (for the first time all the way through) Sky’s coverage of PMQs and have to say the post-match play-by-play format is superior to Brillo’s post-PMQs style – have a few old political war horses round to chuck in their tuppence on the issues – format. It was a bit stale and boring in comparison.

Sky’s coverage was more like sports reporting, which is how it should be. PMQs is a bloodsport…

PMQs Live Chat – Now 18.5% Bigger

Will be flicking between coverage on Daily Politics and on Sky:

VAT Charade Shows Politicians in a True Light

Gordon’s dithering now appears to be the official government macro-policy stance. We all remember the introduction of the 10p tax rate, the disastrously implemented abolition of it, then Gordon being forced to compensate losers he denied existed. We can see with this inadvertent release of the Treasury document on the implementation of the immediate VAT cut and the planned subsequent VAT hike, how Gordon’s government really operates:
  1. He isn’t able to tell the voters the truth.
  2. He dithers: clearly the intention is to hike VAT later to recoup the revenue lost from the VAT cut now. They were planning to announce that. Cowardice got hold of them and they backed away from admitting it at the last moment.
  3. Incompetence: they hastily re-jig the Pre-Budget-Report to hide this intention, but neglect to delete the truth from all the documents released and fail to fully recalculate the figures. The numbers now don’t add up and there is a £100 billion black hole unexplained. The suspicion is that other tax hikes are being hidden.
These are indeed serious times, so this kind of low political maneuvering is not just politically dishonest, it further damages confidence. It also shows politicians in the worst light, Guido would argue it actually shows them in a truthful light. World weary columnists like Michael White and Polly Toynbee say that Guido’s political analysis is flawed by his hostility to politicians. Guido argues that the public interest is ill-served by pundits who are too sympathetic and close to politicians.

Well here is a chance for them to demonstrate their superior powers of political analysis of this fundamental dishonesty with the voters. Go on Michael/Polly, stop sneering in the margins, explain how this is in the public interest and not narrow party electoral interest. Go on, for once: justify this behaviour.

Tuesday, November 25, 2008

+++ 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

Totty Watch : Possibly the Best Tax Cut Photo Op Ever

Guido will be in the Westminster Arms tomorrow Thursday morning. Bit early even for Guido you might think, this however is for a good and noble cause: the launch of the Save the Pub campaign to to promote a Great British tradition and oppose plans to increase beer tax.

Coronation Street barmaid Michelle Connor (real name Kym Marsh formerly of Hear’Say) will join publicans and CAMRA to lend her support by pulling pints for “special guests” including Guido.

As pleasurable a prospect as this is, Guido would rather it was not necessary, however the British beer and pub industry is under severe and sustained pressure from Alistair Darling:

Tax is a third of the price of a pint of beer.

Sales of beer in pubs are now at their lowest levels since the Great Depression of the 1930s.

36 pubs are closing every week.

More than 44,000 jobs have been lost from the industry between 2000 and 2005.

Economic slowdown and Darling’s announcement of yet another increase in duty yesterday – on top of plans to increase the tax on beer above inflation next year and for the next three years is piling on the pressure on pubs. Guido is single-handedly doing everything he can to help…

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.


Seen Elsewhere

Even Ed’s Friends Call Him ‘Bad Luck Magnet’ | Mail
BBC: It Was Guido Wot Won It | MediaGuido
Nick Robinson’s Britain First Selfie | Metro
Dyson: Leave German Dominated EU, Join EFTA |
How UKIP Won Rochester | Seb Payne
Labour’s Islington Problem | Harry Phibbs
Ed Lost More Than a By-Election | Labour Uncut
Labour the Biggest Losers in Rochester | Speccie
Thornberry a Gift to Farage | Nick Wood
Is Left Finally Turning Against EU? | Dan Hannan
Labour Votes Going Green | Guardian


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Ralph Miliband on the English…

“The Englishman is a rabid nationalist. They are perhaps the most nationalist people in the world.”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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