Hain: “Labour Needs to Learn to Love Spending Again”

hain

Peter Hain’s article in today’s Guardian reads like loony left bingo. Apparently focusing on the deficit is a “suffocating neoliberal orthodoxy” created by “the Mail, Telegraph and Murdoch stables”, and of course the Tories will take “public spending back to levels not seen since the 1930s when there was no NHS or decent state school system”. Hain insists “the deficit debate is a trap” and argues “Labour needs to learn to love spending again”:

“Labour will prioritise reviving Britain’s failing recovery by scrapping austerity… We urgently need (as some economists argue) £30bn a year for two years of extra capital investment in infrastructure, housebuilding, education, skills and low-carbon industries. This would rapidly expand the economy and cut the budget deficit by boosting tax revenues as people earn and spend more, working hours rise, and fewer families need to look to the state for support. 

Yes, the shock headlines would announce: “Higher Labour borrowing early in the next parliament”. But higher public spending and borrowing on capital investment today means lower borrowing tomorrow with the economy growing and tax revenues rising.”

Best of all, Hain accuses Blairites and Tories of subscribing to “Alice in Wonderland economics”. Says the spending-addicted debt junkie…




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

Quote of the Day

Dominic Cummings tells Damian Collins:

“You talk of ‘contempt of Parliament’. You seem unaware that most of the country feels contempt for Parliament and this contempt is growing.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
7 Cummings Truth Bullets For Brexiter Tory MPs 7 Cummings Truth Bullets For Brexiter Tory MPs
Gallery Guido’s PMQs Sketch Gallery Guido’s PMQs Sketch
Watch: Jon Craig Duped By Daily Mash Watch: Jon Craig Duped By Daily Mash
Boris Tells May: Get On With It Boris Tells May: Get On With It
German Firms Back Brexit Britain German Firms Back Brexit Britain
Zarb Referred to Disputes Panel Zarb Referred to Disputes Panel
Kate Osamor Plagiarised Maiden Speech Kate Osamor Plagiarised Maiden Speech
Ken: Seumas Wrote My Tweets and Never Told Me to Stop Talking About Hitler Ken: Seumas Wrote My Tweets and Never Told Me to Stop Talking About Hitler
Young Voters Now Prefer May to Corbyn Young Voters Now Prefer May to Corbyn
Ruth and Gove Blast “Dour” Tories Ruth and Gove Blast “Dour” Tories
Ken Resigns from Labour Ken Resigns from Labour
New Tory Treasurer is Director of 7 Companies With Overdue Accounts New Tory Treasurer is Director of 7 Companies With Overdue Accounts
All-Remain Peston Show “Kerfuffle” All-Remain Peston Show “Kerfuffle”
Top Tory’s Firm Implicated in Russian Dirty Money Report Top Tory’s Firm Implicated in Russian Dirty Money Report
New Peerages New Peerages
Kate Osamor Plagiarises Barack Obama Speech Kate Osamor Plagiarises Barack Obama Speech
Corbyn’s New Peer Martha Osamor Defended Anti-Semites Corbyn’s New Peer Martha Osamor Defended Anti-Semites
Tower Hamlets Labour Council Bosses Award Themselves Vast Pay Rises Tower Hamlets Labour Council Bosses Award Themselves Vast Pay Rises
Corbyn-Backed Lewisham Candidate Loves Castro and Chavez Corbyn-Backed Lewisham Candidate Loves Castro and Chavez