McDonnell Stands By Anti-Semitic Poster

This morning on TV, Shadow Chancellor John McDonnell showed an extraordinary lapse in judgement standing beside a Soviet poster depicting two hook-nosed ‘capitalists’ being crushed by Stalin’s five-year plan. Gordon Brown levels of self-awareness…

McDonnell Admits Everyone Will Pay More Tax Under Labour

McDonnell: I Won’t Stay Neutral in Labour’s Second Referendum

Labour’s Plan to Make Britain Worst Place for Business in the G7


The middle-of-the-road IFS think tank has produced this chart showing that corporation tax will be higher in the UK than any other G7 country and higher than the average of OECD industrialised countries. That however is not the full story; the 7,000 largest companies will be part nationalised with 10% in the hands of Marxist McDonnell, unions will be restored to their 1970s status able once again to hold management to ransom, with strikes made easy for secondary picketing thugs and union agitators on the board. High earners will be taxed over half their income. Why would anyone invest in Britain?

Labour’s Non-Existent Manifesto Costings

As in 2017, Corbyn has attempted to address the public’s concerns about the cost of his proposals by claiming Labour’s 2019 manifesto is ‘fully costed’.

According to Labour’s supplementary “Funding Real Change” ‘Grey Book’, their spending plans come to a pocket change amount of merely £82.9 billion, and their tax rises meet this amount pound-for-pound.

The claimed amount of tax each increase will raise are frankly fanciful. The document says that whacking up corporation tax will raise £30 billion, ignoring the fact that the corporation tax cuts that the Coalition government brought in actually raised revenue. The proposed yield from the financial transactions tax is frankly fanciful. Changed behaviour would wipe out receipts…

The document also has some enormous spending omissions:

  • Labour’s £400 billion ‘national transformation fund’ – including a £250 billion Green Transformation Fund and a £150 Social Transformation Fund
  • Their 4-day working week – estimated to cost £17 billion a year in public sector wages
  • All Labour’s nationalisation programmes, including water, rail, energy and the royal mail – estimated by the CBI to cost £196 billion

Guido hopes broadcasters will remind any Labour politicians of these glaring black holes if they claim the manifesto’s fully costed…

Read Labour’s pretend costing document below…

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McDonnell’s Oil Tax U-Turn

Just last week McDonnell denied that Labour was planning a windfall tax on oil companies. He answered a question from the telegraph, channeling Thatcher “No, no”…

“Earlier this week and over the weekend there were reports that Labour was planning a windfall tax on oil companies. Is this true and if so, please could you set out how your proposals would work?”

“On the windfall tax on oil companies. No. No.”

Today both the BBC and FT are reporting that Labour are pressing ahead with the tax, despite McDonnell’s earlier denial. Impressive to U-Turn before the manifesto has even launched… no doubt the BBC / Channel 4 factcheckers will be all over this…

Why Billionaires Shouldn’t Have Tea With McDonnell

On the Today Programme this morning, the Shadow Chancellor extended an invitation to the ‘Phones 4 U’ billionaire John Caudwell to “come and have a cup of tea with me” following his announcement that he would leave the UK if Labour wins the election. Caudwell is known for being the UK’s biggest taxpayer

Guido would warn the self-made billionaire against this particular course of action given McDonnell’s penchant for spitting in the bosses’ tea. Speaking at a rally in 2011, the future Shadow Chancellor praised a P&O worker who spits in her manager’s tea every day:

“There was one woman in all of that… she said I make the manager’s tea; I spit in it everyday. And it’s that form of we’re not taking it any more, and we’re going to give it back, I think builds up a climate of opinion, a climate of dissent, which I actually think, when combined with industrial action, will produce a tipping point that will force this government out of office and that’s got to be our objective.”

Guido shudders to think what he’d do to Caudwell’s drink…

They Can’t Keep a Website Running Yet Want to Nationalise the Internet

BT’s share price dropped almost 4% on opening this morning, following Labour’s late-night announcement yesterday that they plan on nationalising parts of BT to provide free full-fibre broadband to every household. They’ve costed it at £20 billion, which, in comparison to the rest of Labour’s manifesto, borders on pocket change…

Doing the media rounds this morning, McDonnell has promised re-nationalising British Telecoms really is the “limit of their ambitions”, however it has been pointed out he said the same thing when announcing he’d nationalise water, energy, rail and the post office…

Meanwhile, in a sign of what households can expect under the new National Web Service, the group behind the “sophisticated and large-scale” cyber attacks directed at Labour’s website (which turned out to be merely DDoS attacks) have told The Independent they will strike again if we see a Labour government

“If Labour do win the election, you can expect the whole of the government and Labour websites to go offline”

Fully automated luxury communism, here we go…

Labour’s Four Day NH-Mess

On GMB this morning, Labour’s health secretary Jonathan Ashworth emphatically denied Labour’s 4-day week proposals would be implemented with regard to the NHS. At Labour’s NHS speech this afternoon, however, John McDonnell said it would be implemented in the NHS – in front of Ashworth himself. The Tories are now branding the four day NHS plan as a massive cut to NHS services. Don’t dare get sick Friday-Sunday under Labour…

Tories Abandon Fiscal Targets

Today is economy day, Shadow Chancellor McDonnell will be up later promising to spend hundreds of billions of borrowed money and raised taxes. Sajid Javid has just promised to increase spending by hundreds of billions in borrowed money. No mention of that fiscal deficit the Tories promised to close in 2015.

All this borrowing will, they both claim, be financed from the sale of government gilts at the currently prevailing cheap interest rates. The market is suspicious and interest rates will inevitably rise if the market is flooded with gilts. The world’s biggest bond investment fund is Pimco, here’s what their chief investment officer for global fixed income told the FT this morning:

“The prospect of increased sales of gilts to fund more government spending makes the current high prices even less attractive. Gilt yields look too low in general. If you don’t need to own them it makes sense to be underweight”

Incidentally, the name of that chief investment officer is Andrew Balls, brother of Ed Balls. Saj knows that investors will not perpetually buy gilts at the high prices and the low yields prevailing today… 

McDonnell Shown Jewish Newspapers Condemning Labour

Labour’s First Election Spin Cock Up

Staying on message during an election is the single most important part of any media strategy. It appears Labour have made this job considerably more difficult for them by not actually agreeing a line to take on whether they wanted this election in the first place, and whether they were responsible for it happening. Guido reckons the answer’s fairly obvious in the eyes of the public…

Appearing on GMB, Jon Trickett proudly boasted it was “us that triggered [the general election]”. However earlier this morning on Kay Burley, McDonnell implied Labour had been bounced into it by the Lib Dems and SNP, saying “it was the only choice we had”. Very kind of Labour to set the tone of their campaign so early on…

Labour Candidate Booted Out Over Anti-Semitism Tweets Re-Selected

Rebecca Gordon-Nesbitt was removed as the Labour’s candidate in the target seat of South Thanet in the midst of an anti-semitism row. Last year Guido revealed she was running a ‘think tank’ which defended Ken Livingstone and Jackie Walker and questioned the “Zionist sympathies” of Jewish MPs. In response Labour’s NEC surprisingly took action

Yesterday Gordon-Nesbitt was selected again for the seat, despite being blocked by Labour’s NEC just one year ago. Guido understands lobbying from the Shadow Chancellor was crucial in turning around her fortunes…

McDonnell bailing out his dodgy allies and securing the adoration of the nastier side of his party…

McDonnell Takes On Skwawkbox

The Daily Mirror has heard that at the shadow cabinet meeting, Nick Brown lost his train of thought so John McDonnell handed over a piece of paper to help out.

Brown: “You’re really helpful“.

McDonnell: “Yes I am.[…] Read the rest

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McDonnell Confirms He and Corbyn Will Resign if they Lose Another Election

In an interview with Alastair Campbell, John McDonnell has confirmed he and Corbyn will quit leading the Labour Party if they lose another election. Now all that remains is to make them realise this time round that coming 56 seats behind the Tories doesn’t count as a victory…

McDonnell may not even have to wait for an election defeat, however, as this morning it was learnt he may be shifting to backing Tom Watson’s plan of holding a referendum before an election; and in retaliation, some of Labour’s most hardcore membership are already briefing against him. […] Read the rest

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McDonnell Granted Urgent Question on Hedge Funds Shorting No Deal

John Bercow is allowing remainers to indulge further in their comprehensively debunked conspiracy theory that the PM is being backed by “speculators who have bet billions on a hard Brexit” – a falsehood pushed by former chancellor Philip Hammond earlier this week and now leapt on by the Labour party…

It has just been announced that Bercow has accepted an urgent question from John McDonnell on ‘short positions taken against the pound in the lead up to a possible no-deal Brexit’.[…] Read the rest

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McDonnell’s LRC Raffling Steve Bell Cartoons Deemed Anti-Semitic by Guardian

A group John McDonnell is president of has been offering cartoons deemed too anti-Semitic to be published by the Guardian as raffle prizes. At the Labour Representation Committee event, the panel included suspended Labour Party figures Chris Williamson and Jackie Walker.[…] Read the rest

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McDonnell Pledges to Nationalise Corbyn’s Cat

Appearing at Novara Media’sRadical Variety Show‘ yesterday, John McDonnell came up with a raft of new left-wing policies to win over the electorate, including nationalising Greggs and Jeremy Corbyn’s Cat, El Gato. McDonnell also joked a number of times about how his comments were going to be written up by the right-wing press, Guido is happy to oblige…

The night of entertainment, which also included mojito making with Diane Abbott and a game of political charades, peaked with John McDonnell being asked to play ‘wheel of public ownership’.[…] Read the rest

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McDonnell: Our Second Referendum Won’t Include No Deal

Labour has finally come full-circle on their ever-shifting Brexit policy; from respecting the result of the referendum to saying their second referendum will be a choice between no Brexit and Brexit in name only. The next election will be a very stark choice…[…] Read the rest

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Comrade Rayner Defies the Labour Leadership

Discipline is increasingly breaking down in the senior ranks of the Labour Party politburo, this morning previously loyal Comrade Angela Rayner shamelessly defied her party leadership not once but twice live on state television. Counter-revolutionary treachery…

First Rayner contradicted John McDonnell’s incendiary comments on a second Scottish Independence referendum, then – even worse – she sided with calls from Enemy of the People #2 Tom Watson for Labour to work together with Enemy of the People #3 Jo Swinson to block no deal.[…] Read the rest

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