Labour’s fiscal plans: small-minded, totally unambitious and intellectually bankrupt
If I have despaired at the efforts of the Tories, LibDems and Greens when costing their manifestos, think about my horror when reading the Labour manifesto and their associated financial plans.
I applauded the Greens for their bold visions, even if I wanted more detail.
In contrast, Labour is grubbing about in the pretty cash tin, and even then doing it badly. Worse, the three tables it published are the clearest possible indication that Rachel Reeves will be intent on micro-management and has not a clue how to imagine the tasks that will face her in govermment.
These are the tables in question:
Labour is planning to change taxation by less than 1% of the current total raised. Can a party with less ambition have ever been heading for a landslide?
Worse, it then does not plan to spend all of that sum, because it thinks it prudent to hold some back.
As for the Green Plan, that provides evidence that £28bn can apparently be shrunk to £4.7 billion whilst utterly missing our net zero-goals.
And as for the last table, whilst I do not doubt the relevance of some of the issues raised, if spending of £5 million has to be mentioned in a manifesto then the Shadow Chancellor is most definitely demonstrating she really does not understand the macroeconomic significance of the role she is about to take on.
I could discuss this stuff, but doing so makes no point. This is small-minded, totally unambitious and intellectually bankrupt. I see no point in considering the detail when the metanarrative in the previous sentence is what matters.
I really am despairing of what is going to be coming our way now.
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