The opportunity cost of Gordon Brown
Today we are warned that we could have to work till we are 70 to pay of the debts Gordon Brown has run up.
Labour ministers bleat about public sector "investment", which means client state spending.
But what a poor return on these so called "investments" they achieve.
Because they spend today, you will pay tomorrow as it becomes very clear that these investments were just overhead that is wasted on consumption rather than capital investment (I don't mean capital spending here - they are very good at that ) or process improvement.
Its what I learn't in my 'O' level economics as opportunity cost.
Because Labour chose to hose cash on unreformed public services and finance it by borrowing future generations will have to pay interest on loans rather than spend the money on improving the NHS or education ( little of which has been done by Labour ).
Labour ministers bleat about public sector "investment", which means client state spending.
But what a poor return on these so called "investments" they achieve.
Because they spend today, you will pay tomorrow as it becomes very clear that these investments were just overhead that is wasted on consumption rather than capital investment (I don't mean capital spending here - they are very good at that ) or process improvement.
Its what I learn't in my 'O' level economics as opportunity cost.
Because Labour chose to hose cash on unreformed public services and finance it by borrowing future generations will have to pay interest on loans rather than spend the money on improving the NHS or education ( little of which has been done by Labour ).
1 comment:
The complete failure to achieve value for money in our public services will hurt Labour for years to come.
Never again will the public accept any argument along the lines of 'We spent more, therefore things must be better'.
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