Man in a Shed: On the road to No 10

Monday, May 19, 2008

On the road to No 10

David Cameron is reported by Rosa Prince (!) in today's Telegraph with the following opening words:

Lower taxes on families and an end to "reckless" state spending will be at the heart of the Conservative Party's campaign to oust Labour from power.

This is the best news from the Conservative party in years ! ( We can expect Labour to sheepishly try to copy, after Gordon has had some time for calculating, but they may not be able to carry their party with them and are very damaged in the eyes of the public ).

The odds on David Cameron being the next prime minister should have dramatically shortened today ( win or lose on Thurs - this is a winning formula ).

1 comment:

Simon Fawthrop said...: Interesting move. In the past whenever tax cuts were mentioned Labour just ran with the mantra about NHS cuts, services cuts etc and scared the children in to believing only Labour could deliver.

Obviously the Tories sense that people have been pushed too far on taxes and that Labour can't fall back on easy mantras and will have to justify their spending plans first.

We could, at last, have a true discourse on taxes and spending; 5:00 pm

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman