Earlier this week, we heard the Labour Party freely admit that they were preparing for a run on the pound if they were to succeed in government, and various other “war games” scenarios. This was because they freely admitted that their plans were so radical as to perhaps (read: definitely) scare the living hell out of markets.
We saw a Labour leader give a speech that spoke of renationalising broadly everything, completely and utterly destroying any financial restraint on public finances for the sake of stability and those who will be left to pay for it (i.e. me), and yes, bowing to his core, core beliefs, platform-praised Palestine and deliberately ignored the Friends of Israel event at Party conference. But we all know what his feelings are there.
To spell it out in financial terms, the rough calculations for what they’re planning (and who knows what they’re privately planning), is that it will cost in the region of £300bn extra borrowing per year. Denis Skinner said that’s fine, because that’s what the private sector do – missing the point entirely that the private sector usually pay back such amounts, without having to pay more on debt interest as credit ratings for nations fall, amongst other things.
And just yesterday, Theresa May managed to achieve the unbelievable: A joint statement from the TUC (unions) and the CBI (big business) condemning her government’s utter failure to spell out proper terms of EU nationals’ status in this country following Brexit.
Again, yesterday, she said that the Tories failed to obtain a majority at the election because they weren’t prepared to fight for it, claiming that there was a void between CCHQ and unprepared campaigners. She also blamed young people for forgetting what free markets can do. This is quite amusing, especially since Generation Y voted Conservative in 2015, back when we had an inspirational leader who was able to actually inspire people as opposed to repeating the same inane, meaningless slogan, until it became so useless that they had to change it a week before polling.
She should also take a look at YouGov’s data on how Britain voted in 2017, and look at the frankly amazing statistics that the Tories lost the votes of working people, not just those awful youngsters.
Presumably she’s doing this because the Pickles Report, due on the first day of conference, is going to pin this all on her ineptitude and inability to deliver a majority Conservative government – and rightly so.
When this all ends, please wake me up. Or send for David Cameron. We miss you.