Monday, May 24, 2010

Child trust funds - Labour's cynical joke on our children

The BBC has been desperately trying to whip up hysteria on the coming evil kitten murdering Tories austerity fest.

The Child Trust Funds look like the headline of the day. Matthew Taylor was on radio 4's PM giving the poison laden type interview that New Labour are so famous for - full of the socialist favourite tricks of partial examples - studies are beginning to show that etc etc.

But lets get this straight as George Osborne confirmed to day - state borrowing is just deferred future taxation, that's future taxation on our children. Labour has robbed an entire generation of its future money - all blown on inefficient state spending to save the careers of failed and frankly stupid socialists.

So lets not have any more of this socialist hypocrisy from the BBC, Labour or their co-travellers with their crocodile tears about the effects of their pre-election burnt earth strategy.

Update: See also Ian Cowie Why the Child Trust Fund con-trick had to stop .


Anonymous said...

I think that people still don't understand exactly what the Labour government has done under Tony and Gordon. The off sheet debt that Gordon magnificently managed through PFI's and the NHS has hidden a lot of our debt, but only in political terms, from the people. That debt, as we know is still part of all financial transactions with banks etc, it's just an economic slight of hand. The level of cronieism was also a bleed on finances, i.e. Sir Michael Barber, who was Tony Blair's chief adviser on education and health – from 2001 to 2005. Since September 2005 Sir Michael has been a partner at McKinsey, which was paid £9 million for management consultancy services to the DoH in 2007/8. The tories, need to explain this simply and rationally. A few nice phrases, "Institutionally Corrupt" and "Morally Bankrupt" come to mind. Maybe throw in "Econonomical with the Truth but not our finances".

Moonraker said...

The BBC may or not cause any hysteria over child trust funds but the coming austerity will certainly be accompanied by hysteria over a considerable increase in unemployment and hence crime. The Coalition had better be ready to increase spending on prisons (currently full) or life will soon become nasty, brutal and for some, short - even in Conservative constituencies. The reason we have to support the underclass is that otherwise they will take what they need by force or theft. Currently safe streets soon wont be!

Crumpled Fiveskin said...

The Child Trust Fund was basically a substitute for education and personal responsibility.

Would I have got one without the government doing it for me?
Probably not, as I've always been skint, but I would have done some of this stuff eventually once I had money... of course, in a non-socialist state, I would have had very different options and taken a very different path... long as there are tax breaks to make companies offer apprenticeships/traineeships/cadetships, all would be well... eventually.

I hate Labour's assault on freedom and personal responsibility, but I have benefitted in some ways from the redistribution.
I just think it would be healthier for the source of help to be connected to a healthy private sector more directly... far better to study as an employee than just with the hope of becoming one.
The kinds of mechanisms that incentivise work, like tax credits and apprenticeships, are the best replacement for the drifting pointlessness of benefits.

The 90s recession was bad enough... this one is going to scar a generation.

Anonymous said...

The evidence has been put on the internet by Professor John Seddon - it will make you angry