Sunday, 10 November 2019

So you say Labour's plans would cost £1.2 trillion ...


The Tory party have concocted an absolutely absurd misinformation campaign aimed at convincing the gullible that Labour would waste £1.2 billion if they win the next election.

If you come across anyone dim-witted enough to actually repeat these nonsense numbers, here are eight simple questions you can ask them to illustrate exactly how gullible they're being.

1. Where did you get this figure from

The figure was jumbled together on the Tory 'costofcorbyn' website, and then uncritically splashed all over the pages of the right-wing billionaire-owned propaganda rags.

No reputable source has mentioned this bogus figure without the disclaimer that it's been calculated in an incredibly shoddy way. Even the BBC called it out as "bogus numbers" and "dodgy accounting"!


2. Why do you believe it?

Whether this claim has been sourced from the Tories directly, or rote learned from the pages of the S*n/Daily Mail/Express, whoever is repeating it is believing it at face value with no critical thought whatever.

Don't they even know not to trust politicians without checking their claims first, or that they shouldn't believe everything they read in newspapers?

3. Did you check the workings?

Whoever is repeating this nonsense obviously didn't check the workings, because they're absolutely full of basic errors.

The idea that Labour would enact every single one of their policies on the day they formed a government is as blatantly ridiculous as the idea that government investments create absolutely zero returns to offset the cost.

Anyone who even remotely looked into how this figure was devised would definitely not be repeating it, because nobody actively wants to make themselves look an economic illiterate. Do they?


4. Do you understand the difference between an investment and an expenditure?

This is absolutely basic accounting stuff, but it's apparently beyond the abilities of the Tories who devised this number, and all the gullible piss-wits who are regurgitating it.

The difference is that when you invest in something, like taking the water supply, railways, or national grid back under public ownership, it's an investment that provides returns on investment, while expenditures are not recouped (at least not directly).

Investing in the de-privatisation of vital national infrastructure and services is not an expenditure with no returns because once private profiteers are prevented from soaking away the benefits in huge dividends and bloated executive salaries, the profits go back to the nation.

Jumbling up national investments up with government expenditures, like extra spending on stuff like free childcare, and free school meals is utterly ridiculous.

5. How did they work it out when Labour haven't published their manifesto yet?

Working out what a party's election manifesto would cost before they've even published it seems like pretty odd behaviour, especially since Labour set the precedent of explaining their spending pledges in their last manifesto.

Shouldn't the Tories be working on their own manifesto, and figuring out how much it would cost, rather than making up fake figures to discredit Labour's manifesto, when they've not even seen it yet?

6. How much does the Tory manifesto cost in comparison?

In an extraordinary car crash interview Tory minister Kwasi Kwarteng was asked by Sky News how much the Tory manifesto was going to cost in comparison, to which he gave the incredible reply that he was "not going to bandy around figures".

The absolute brass neck of bandying around such economically illiterate figures about Labour's spending plans, then bare-faced dodging questions about their own!

7. If the Tories are this bad at maths, why would you trust them to run the country?

The £1.2 trillion figure is so riddled with basic errors and economic illiteracy it's absolutely astounding that anyone would be happy to have the incompetents who produced it running the country.

If they can't even do basic stuff like differentiate between an asset and an expenditure, is it any wonder the Tories have delivered the slowest economic recovery in centuries, caused the worst period of sustained wage depreciation in history, and chucked away the UK's AAA credit ratings?

8 How much has austerity cost?

In 2010 the Tories promised that austerity fanaticism would have eliminated the budget deficit by early 2015, it's late 2019 and the national debt is still growing.

How much has all of this extra borrowing added to the national debt?

Well the national debt has risen almost £1 trillion since 2010, and what do we have to show for it? Worse public services, failing schools, smaller army, fewer police and fire fighters, bankrupt local councils, vandalised social safety net, the lowest level of infrastructure investment in the developed world, cancelled flood defence spending, soaring poverty, collapsing wages ... and according to Tory tribalists that represents money well spent!

And how much has the ruinous economically stifling austerity agenda wiped off the value of the UK economy?

According to research by NEF austerity has wiped a whopping £100 billion off the value of the UK economy already, and that's not a made up figure, it's economic value that's already been destroyed.

Do you see any Tories crying over that?

Of course you don't, because they don't actually care about the health of the UK economy, all they care about is transferring as much wealth as possible from the poor and ordinary to the mega-rich, no matter what harm this upwards wealth redistribution does to the wider economy.


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37 comments:

Anonymous said...

Man, anyone see articles and interviews about Labours big ol' blue bus? Bit cringe tbh.

Anonymous said...

Guys, I'm telling you, it is such a fuss trying to get a comment on here. It's like going through custom's.

Radioh3d said...

Same old sad, desperate and baseless attempts at putting down Labour whenever the truth is told about this crooked, incompetent, self-serving, fraudulent shitshow of a government. Even when their whopping lies have been uncovered countless times and it's beyond obvious that the good of this country is of no interest to them, Anonymous still defends them. Give it a rest man, nobody cares about your issues. Keep them to yourself.

Anonymous said...

The UK should vote to eject Scotland. Scotland costs the UK taxpayer 10.3 billion after any basic tax revenue from Scotland. This money goes to treat self inflicted lung and bowel cancer and heart disease. Scotland needs to leave the U.K and join up with the E.U. They can be bailed out by the rest of the Europeans and they'll have gained "independence" from the UK just like the country wants. Eject Scotland. Wales, Ireland and England's choice because the last referendum was so indecisive.

You still plastered from the weekend?

Mr. Magoo said...

"...they don't actually care about the health of the UK economy, all they care about is transferring as much wealth as possible from the poor and ordinary to the mega-rich, no matter what harm this upwards wealth redistribution does to the wider economy."

They've been doing an excellent job of running capitalism, then. Mankind needs to produce goods and services to meet people's needs and not to generate profit. By doing this - words such as poverty, starvation, and homelessness will only appear in history books; plus mankind can live and develop in harmony with nature.

https://www.worldsocialism.org/spgb/

Anonymous said...

BBC Radio 5 live, Thornberry said that if a Labour government left the EU, the post-departure immigration policy would include controls on EU nationals. The party’s Brexit policy would be to try to swiftly renegotiate a departure deal that included customs union membership and access to the single market. The Single Market is only open to EU members and includes FREE MOVEMENT OF PEOPLE...Labour as deluded about the EU as the rest

Anonymous said...

The Tory's campaign seems to be entirely about attacking Corbyn and Labour, there's little detail coming out on their 'plans' at all. They're simply trying to create a distraction using the same tired old smears.

Speaking of smears we have a hard right anonymous Tory troll commenting with:

"The UK should vote to eject Scotland. Scotland costs the UK taxpayer 10.3 billion after any basic tax revenue from Scotland. This money goes to treat self inflicted lung and bowel cancer and heart disease. Scotland needs to leave the U.K and join up with the E.U. They can be bailed out by the rest of the Europeans and they'll have gained "independence" from the UK just like the country wants. Eject Scotland. Wales, Ireland and England's choice because the last referendum was so indecisive."

To start with Scotland is a net contributor to the UK. And while, yes, there is a thing called the 'Glasgow Effect' meaning that for unknown reasons people in the West of Scotland DO suffer poorer health than similar areas elsewhere in the world there is no evidence to suggest that it is "self inflicted" The writer would do well to remember how the UK economy was bailed out in the 80s, it was only when North Sea oil revenues finally came on stream that the UK started to come out of the recession, it wasn't anything Thatcher did, if anything she squandered the £billions that came in. Norway, for example, has a fund from their oil revenues rather than the largest national debt we've ever known. But oil aside, Scotland still has a GDP 98% of the UK average (and the UK average INCLUDES the oil)So there's no "bail out" required but we in Scotland don't begrudge the one we've been giving everyone else for the past 35 years. I do agree with one point, given the state of politics and how Scotland is treated by those who think as he does, we WOULD be far better off, financially and politically, as an independent country. Something I pray we won't have to wait too long for. The writer is an 'uber-nationalist' who a few years ago would've been voting for the National Front or BNP but now probably feels right at home with the Tories.

I've always despised Tory values, they really ARE "lower than vermin" but in the past few years they are competing for the racist voters in England and the Sectarian bigots in Scotland. No decent human should consider putting an X next to their candidates. Unfortunately the Labour Party has been infested with Blairites in Scotland, as elsewhere, and whilst I do like everything Corbyn says he has backpedalled (along with McDonnell) on a promise to allow an Independence referendum in Scotland. When in Edinburgh they were all for it, NOW they say that a "mandate" would be required. This ALREADY EXISTS. With SNP and Greens having a majority in Holyrood (a legislature set up by Labour to ENSURE there could be NO majority) a vote was carried as a mandate for a second referendum, SNP also has 60% of the current MPs for Scotland at Westminster (and the polls indicate an increase at the GE) and to top it off independence is polling at over 50% with the Scottish public. So if THAT'S not a mandate, what is? Scotland is running out of democracy and has already run out of trust certainly for the Tories and LibDems and now, sadly for the Labour Party. It's a shame, Corbyn & McDonnell are the best thing that's happened to Labour for years. I fear the tail is wagging the dog and preventing them from allowing the democratic will of the people in Scotland to be heard. I hope that in the GE we will see the end of the Blairites and get more GENUINE Labour representation as we once had.

But I'm afraid I can't give Labour my vote because they won't honour my democratic right to self determination. I voted Labour man and boy and this breaks my heart...

Radioh3d said...

You're wasting your time with the likes of him mate. He's either an ignorant troll who knows he's talking shit, or he's an ill-informed tribalist who doesn't care whether or not he's talking shit.

He doesn't want to know that England would be screwed without Scotland (the fact that Johnson is point blank refusing to play ball with the Section 30 order is clear evidence of this) because it's the truth, and people who've been exposed to years of toxic government and media propaganda can't handle the truth. Sooo, Scotland is subsidized by England LoL

Like the way you think btw. Couldn't agree more.

steve said...



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Anonymous said...

@Anonymous

Scotlands expenditure is 75.3 billion, the Uk total is 352 billion. Scotland counts for 28% of expenditure whilst only being 8.2% of the population. Scotland is a net loss to the UK taxpayer.

Source: GRS.
https://www.gov.scot/publications/government-expenditure-revenue-scotland-gers/

Eject Scotland.

Source: Reuters.
https://uk.reuters.com/article/uk-britain-economy-scotland/scottish-budget-deficit-at-seven-year-low-but-far-exceeds-uk-average-idUKKCN1VB0SC

"Scottish public spending was 13.6% higher per head than the average for the United Kingdom, the biggest margin since records began in 1998-99. Revenue collected in Scotland was 2.6% lower per head than the UK average."

Ejects Scotland.

"Scotland - which accounts for about a tenth of Britain’s population and economic output - is now responsible for more than half of the United Kingdom’s total government borrowing in cash terms."

Eject Scotland

"Wednesday’s figures showed Scotland’s net fiscal balance, including revenues from North Sea oil in its territorial waters, dropped to 12.6 billion pounds, or 7.0% of gross domestic product in 2018/19, down from 8.1% in 2017/18."

You want Scottish Independence. Scotland had a referendum and you didn't get the result you wanted. I want Scottish independence because it is a net drain on the economy and that money can go toward the NHS. Therefore the rest of the UK should vote to: Eject Scotland.

A referendum to eject Scotland adheres to article 30. You will have independence at the UK's behest.

Swallow your pride, you know it makes sense.

Anonymous said...

@Dickhead
Oh, look... another angry voice.

Anonymous said...

@Mr Magoo
I've checked out your link and you appear to be advocating for a wholly centralised global economy controlled by the state which has hundreds of thousands of positions of authority and power democratically elected every year.

First of all have you any examples of a wholly centralised economy to draw from? The only one's available that I can see are Soviet Russia and Mao's China and due to the inefficiencies of a wholly centralised economy: People died in swathes.

FYI: I'm not talking about the deaths brought about by the totalitarian regime itself, I'm talking about the deaths reported by Soviet economists in which they state that the handling of these markets was so complex it often brought cities to a standstill because they simply could't keep up provisions comparative to free market enterprise (along with all it's usual complaints).

Basically, have you any proof or evidence that this will work? If you don't it's highly likely you're wasting yours and everyone's time.

Radioh3d said...

If Scotland was gonna be ejected, it would have happened long ago because Westminster is full of ignorant, hateful xenophobes like yourself.

If we're such a burden to the UK taxpayer, why is the UK government clinging on to us like some kind of parasitic organism, refusing to let go when we want to go our own way?

You're full of it.

Anonymous said...

@Radioh3d
They did... the indy ref... Trololol!

Radioh3d said...

That was then, this is now. You irritating, inadequate, infinitesimal insect. Two words - Fuck Off

Anonymous said...

@Radioh3d
Nah, you don't get to dictate anything to me. But yeah: Scotland's taking even more in welfare from the UK and getting less oil money in revenue by the year...

Eject Scotland.

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