Yesterday we reported exclusively that Bob Roberts will be appointed as Ed Miliband’s news spinner. The Guardian followed it up with “There were unconfirmed reports today that Bob Roberts, political editor of the Mirror, is to become Miliband’s director of communications…”, note the lack of attribution to the unconfirmed report. The FT’s Jim Pickard went with it, having apparently troubled himself to get a non-denial from Bob, the Daily Mail just went with it – again without attribution. They can’t bring themselves to give credit, because then their editors would ask them why they were beaten – again – by a below-the-salt blogger?
In what is a bid to soothe ruffled LibDem feathers, rather than in response to the looter’s protest, the government has just announced a new clamp down on tax avoidance. Guido mentioned at the weekend how quiet the left were about the Guardian’s tax avoidance in contrast to their attitude to Philip Green. There hasn’t been a squeak from the likes of left-wing millionaire Richard Murphy, a Rowntree and TUC funded, self-styled “fair tax” expert. But then he did give the Guardian Media Group accounts his seal of approval, after GMG made a £302 million profit in 2008 and paid not a penny in corporation tax.
Murphy, of the Toynbee school of hypocrisy, seemingly wears his principles on his sleeve and argues for anti-avoidance measures and crucially that the philosophy behind tax collection should be judged by the spirit not the letter of the law. However has Murphy always practised what he preached?
Before he discovered the cause of “Tax Justice” between 2001 and 2003 he wrote technical articles for The Guardian advising how to minimise tax on employing a nanny, how to minimise tax for the self employed, maximise your tax allowance through taking out a stakeholder pension and attacking legislation which requires accountants to report tax evasion. On second reading Murphy’s recent line that he was just highlighting the holes doesn’t really wash, especially when his own tax practises are examined. Although Murphy puts his home address on all his business literature – it is the registered address for all his companies – he does not pay business rates on the property. Not quite within the spirit of the law now is it…
James Macintyre no longer has a column in the New Statesman in which to share his insights. He now has only his Twitter to pass on wisdom. Yesterday he had a ground breaking “Twitter Exclusive” revealing that Gordon’s new book makes no mention of Tony Blair.
For Macintyre it is an exclusive from “a top Whitehall source”, for the rest of us it is a month old story we read everywhere. Wonder how his book is coming along?
Euro-Socialist and Green MEPs have tabled a motion calling on Ireland to double corporate tax rates as part of a quid pro quo for a bail-out. Not a single Irish MEP has supported the motion. Ireland should just tell them to “feck off”…
Douglas Carswell is right, Ireland should decouple and default. Coupling the Celtic Tiger to the euro was a disaster, it was inevitable that when economic cycles were asynchronous the big core EU countries would set interest rates to suit themselves. The ECB kept rates too low for Ireland’s over-boiling property market, which predictably bubbled over. Exactly as Euro-sceptics from Farage to Redwood predicted would eventually happen.
The Irish property crash has destroyed the banks, none more so than Anglo-Irish Bank, a bank run by corrupt allies of the governing Fianna Fáil party. The state guarantees proffered in the panic of 2008 to Irish banks gave them the backing of the state’s ‘AAA’ credit rating. Those guarantees have now sunk the state’s credit rating.
A World Bank report from back in May 2009 “What Went Wrong in Ireland?“ written by Patrick Honohan, Professor of International Financial Economics at Trinity College Dublin, put the blame squarely on joining the euro and having the wrong interest rates:
…the underlying cause of the problem was … too much mortgage lending (financed by heavy foreign borrowing by the banks) into an unsustainable housing price and construction boom. The boom seemed credible to enough borrowers given sharply lower interest rates with adoption of the euro … it was Economic and Monetary Union (EMU) entry that really started the housing price surge by sharply lowering nominal and real interest rates, thereby lifting equilibrium asset prices…
Honohan isn’t some obscure professor, since writing that report Honahan has been made the new governor of the Irish Central Bank. Left-wing British commentators like the Fabian’s Sunder Katawala, the Indy’s Ben Chu and even Polly Toynbee are trying to blame Ireland’s woes on low tax rates and free market reforms. No serious Irish economist attributes Ireland’s crisis to low tax rates. The reason Polly, Sunder and Chu want to present that argument is to stick it to those of us on the right who praised Ireland’s supply-side economic policy reforms, which is why they point the finger at the likes of George Osborne, Dan Hannan, John Redwood and Nigel Farage. It is intellectually dishonest of them to cite derisively the British right’s praise for Ireland’s successful free market micro-economic reforms and ignore warnings from the same about the macro-economic systemic risk of joining the euro. That is exactly what the left-wing commentariat is trying to do.
The micro-economic reforms that led to the Celtic Tiger pre-date Ireland entering the euro and were designed to improve the supply-side potential of the economy, make markets and industries operate more efficiently and thereby contribute to a faster rate of growth of real national output. Low taxes and freer markets achieved that objective – incidentally many of those reforms were championed in the 80s and 90s by the Progressive Democrats – the party of which Guido was a member. After joining the euro in 2000 Ireland had negative real interest rates, sparking an out of control property bubble.
German economic advisers from Frankfurt have been in the Irish finance ministry and central bank for nigh-on a year. Last month the ECB in Frankfurt mandated the Irish government to pay off European holders of Irish bank bonds – the European bail-out of Ireland is really a bail-out of European lenders to Irish banks. In joining the euro Ireland’s economic sovereignty was surrendered by Fianna Fáil with the support of almost the entire political class, consequently the next generation of Irish taxpayers have had their future mortgaged. Guido could cry for what the europhiles have done to his country…
Commentariat celebrities Yasmin Alibhai-Brown and Rod Liddle are duking it out in column inches.
She has a letter in today’s Sunday Times objecting to Liddle calling her “boring” and “stupid” last week. To think that if only Rod hadn’t been convicted by the PCC thought-police of casual racism he could have been editor of the Indy and Yazz’s boss.
This is one of those feuds where Guido hopes the evenly matched bloviators fight to the death in a commentariat version of MTV’s Celebrity Death-Match. Merely saying this will no doubt feed Yazz’s paranoias and provide more material for her columns. Based on past form it may even lead to a waste of police time…
In a rare move for the belligerent and hyperactive columnist, Polly Toynbee this morning apologised for the inflammatory language that Guido highlighted the other day, when she compared a slight tweak in government benefits policy to the slaughter of six million Jews. On her “final solution” comment she said:
“Yes, it was over the top, a slip of the pen, made worse by the fact that it was put in the headline. I regret it.”
Savour the moment, Guido doesn’t imagine we will get another half-apology any time soon…
House of Commons
Mr Paul Dacre,
Editor the Daily Mail
Dear Mr Dacre,
I would like to apply for a job as one of your columnists. As you will see below your current columnist Andrew Pierce has deemed my work worthy of your hallowed pages, he will no doubt be happy to provide a reference.
In the last few weeks Mr Pierce has found my website a wonderful resource for his columns:
Since the beginning of October Mr Pierce has seen fit to lift an entire story concerning William Hague’s former Special Advisor Christopher Myers, he didn’t even try to find a new angle on it. Two days later my story concerning the Tories putting a press officer on Newsnight was lifted almost word for word. And just this morning exactly the same happened with my exclusive concerning Steve Hilton and Rageh Omar.
Given Mr Pierce appears to simply lift my copy and scoops without any payment, perhaps you should simply cut out the middle man and get your stories from the source? You may be unaware that Mr Pierce has a magpie-like long track record of cutting and pasting the most sparkling stories that would shame those avian thieves, as indeed Private Eye reported several years ago. Despite this Pierce continues to deny he is even a reader of my “ugly and boorish” website. You will no doubt agree the evidence suggests otherwise.
Looking forward to hearing from you.
Yours in middle class solidarity,
Guido Fawkes Esq.
Guido is off to the Institute of Economic Affairs to debate the whats and wherefores of the “liberal elite”. As is traditional whenever Guido goes head-to-head with Sir Michael White, Guido is wearing national dress tonight (pictured).
The Free Society and Liberal Vision will be discussing:
Who holds the liberal torch in 2010: Libertarians, Lib Dems or the “liberal elite”?
Tuesday June 29, 2010 Chaired by Mark Littlewood (Institute of Economic Affairs), speakers include Julian Harris (chairman, Liberal Vision), Chris Mounsey (leader, Libertarian party), Brendan O’Neill (editor, Spiked!), Paul Staines (aka blogger Guido Fawkes), James Delingpole (writer, journalist and broadcaster), Mark Pack (co-editor, Liberal Democrat Voice) and Michael White (assistant editor, Guardian).
Readers will be aware that Guido and Danny Finkelstein have been squabbling for years about raising the tax thresholds for the working poor. Guido was even christened a “punk tax cutter” by Fink and at one point Nick Clegg himself […]
It was only a few weeks ago that the papers were full of punditry warning that Tony Blair was about to become the President of Europe. He would, we were assured, stop the traffic…