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

Noel Gallagher on Brexit:

“In England, the Brexit thing, it’s like, I can’t believe there’s so much noise about it… It was put to the people as a vote, the people voted. That’s democracy. F***ing get over it.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Royal Mail’s Tweets Deliver Truth About Nationalisation Royal Mail’s Tweets Deliver Truth About Nationalisation
Jez “Doesn’t Do Dinners” Jez “Doesn’t Do Dinners”
New Tory Slogan: Building a Britain Fit for The Future New Tory Slogan: Building a Britain Fit for The Future
Unilad Deleted From Facebook Unilad Deleted From Facebook
Disgraced Gay Times Editor Is Labour Member Disgraced Gay Times Editor Is Labour Member
Yasmin Alibhai-Brown: “I’d Rather Be Mugabe Than May” Yasmin Alibhai-Brown: “I’d Rather Be Mugabe Than May”
Corbynista Rulebook Saves Lansman’s NEC Dream Corbynista Rulebook Saves Lansman’s NEC Dream
70 Million Reasons BuzzFeed Won’t Go Public 70 Million Reasons BuzzFeed Won’t Go Public
Sun Coffee Run to Broadcasting House Sun Coffee Run to Broadcasting House
Teething Problems for Salmond’s RT Show Teething Problems for Salmond’s RT Show
Hammond to Deliver “Real Action” on Housing in Budget Hammond to Deliver “Real Action” on Housing in Budget
Dods Shard Offices Infested With Maggots Dods Shard Offices Infested With Maggots
Nelson’s Back Nelson’s Back
Nasreen Khan Resigns Nasreen Khan Resigns
Young Liberals Condemn Cable For Defending Rennard Young Liberals Condemn Cable For Defending Rennard
Brexodus Was Bogus Brexodus Was Bogus
McDonnell Now Sure There Won’t Be a Run on The Pound McDonnell Now Sure There Won’t Be a Run on The Pound
Shadow Minister: “I Don’t Know” Why Corbyn Hasn’t Suspended Dent Coad Shadow Minister: “I Don’t Know” Why Corbyn Hasn’t Suspended Dent Coad
Byline Outs Russian Troll But It’s a Security Guard from Glasgow Byline Outs Russian Troll But It’s a Security Guard from Glasgow
Emma Dent Coad on “Fake Bake”, “Homies” and “Bluds” Emma Dent Coad on “Fake Bake”, “Homies” and “Bluds”