Drug-induced? Conservative policy is to increase the national debt and make you pay


Isn’t it shameful that the Conservatives are attacking Labour because the Co-op Bank chief has been behaving like the Chancellor of the Exchequer?

The ex-chairman of the bank, Paul Flowers – who is a former Labour councillor, is being investigated by police after he was filmed appearing to buy drugs. How is that different from the above photograph of one G. Osborne (now Chancellor of the Exchequer), raving it up at a party with a lot of cocaine on the table (ringed in red)?

Comedy Prime Minister David Cameron made much of the Flowers investigation at Prime Minister’s Questions – even suggesting, after the unimpeachable Michael Meacher asked an important question about business investment, that the honourable gentleman might have “been on a night out on the town with Reverend Flowers” and the “mind-altering substances have taken effect”.

Apparently it is all right for Gideon to be a drug casualty because he is a Tory; only Labour supporters who take drugs can be bad in Cameron’s addled world.

No wonder Labour MPs chanted “Shame!” at Cameron as he slunk out of the Chamber.

His attitude seems wrong-headed because, as managed by Mr Osborne for the past three and a half years, the economy can only be regarded as improving if one has the aid of Mr Cameron’s “mind-altering substances”.

Economic figures released this week are being touted as good news, with tax revenues “boosted” by “a recovering economy and housing market”, according to the BBC.

Take a closer look at those figures and they fall down. Borrowing (excluding the cost of interventions like bank bailouts, so we’re already in the realm of made-up figures) fell by two one-hundred-and-thirds, from £8.24 billion in the same month last year to £8.08 billion in October. Less than two per cent and they’re calling it a “boost”. It might be wiped out again in November’s figures.

Also, it should be borne in mind that growth in the housing market is due to the bubble created by our formerly-substance-abusing Chancellor, while any other economic growth has nothing to do with him and, in any case, does not help the vast majority of the population.

Total public debt has risen again, to £1.207 trillion or 75.4 per cent of gross domestic product – the highest it has ever been – under the Conservatives.

The aim for the national deficit, we are told, is to keep borrowing for 2013-14 at £120 billion or below. In his ‘Emergency Budget’ of 2010, Osborne predicted that borrowing this year would be down to half that – at £60 billion, and estimates have been rising ever since.

The 2011 budget had the 2013-14 deficit at £70 billion; in 2012 it was expected to be £98 billion; and now – £120 billion. Perhaps his original estimate was a coke-fuelled fantasy?

Of course – as this blog repeated only days ago – the Conservative-led Coalition never intended to cut the national debt. This was just a claim ministers made while they changed the system to take as much money as possible from the poor while making it possible for the rich to remove their personal earnings and corporate profits from tax to the greatest extent possible.

Result: Increasing debt and lower-than-necessary tax returns, making it possible for the Tories to claim they must cut public services and the benefit system, while laughing all the way to the banks (the ones that were never penalised for burning all our money in the first place).

So much for “We’re all in it together” – unless that was another reference to “mind-altering substances”, and we didn’t understand it until now.

8 thoughts on “Drug-induced? Conservative policy is to increase the national debt and make you pay

  1. beastrabban

    Reblogged this on Beastrabban’s Weblog and commented:
    A friend of mine, who was actually a member of the Conservative Party at the time, was fond of the old quote ‘The Tory Party is an organised hypocrisy’. Mike’s article here once again shows the stunning hypocrisy of the Conservatives in loudly trying to associate Labour with drugs over the arrest of Paul Flowers for cocaine. They are, however, notably silent about the George Osborne’s use of the drug at a party. About ten years ago there were gasps of horror in the national press, and a piece by Matthew Parris in the Spectator, no less, when various members of the Tory shadow cabinet confessed to having tried cannabis at university. Cannabis, it should be remembered, is a ‘soft’, non-addictive drug. Although there is much evidence to indicate that its use may result in neurological damage, it is in no way as personally or socially destructive as the chemical in which young George seemed to indulge, or believe was socially acceptable. As for drug abuse amongst financial executives generally, the ‘Financial Times’ did a feature at around about the same time which claimed that heroine addiction was widespread amongst young bankers, stockbrokers and other in financial sector. The cartoon illustrating the feature showed a group of shirt-sleeved young men, huddling themselves in the painful posture of drug withdrawal, in a deliberate reference to the poster for ‘Trainspotting’. Underneath each figure was their name. Instead of the monickers of the Glasgow underclass, these were the names of the wealthy and privileged, such as Piers. While Paul Flowers’ use of cocaine is reprehensible, he is in no way isolated, quite apart from George’s indulgence in it. Cocaine itself emerged in the 1980s and 1990s as the ‘yuppie’ drug, used in popular culture by such thrusting young entrepreneurs as the corrupt OCP executives in the original Robocop movie, and Al Pacino in Scarface. In that film the gangster hero’s downfall is caused in part by him breaking the maxim ‘Don’t get high on your own supply’, which shows that even organised criminals have better sense than George. Mike then goes on to show just how illusory the chancellor’s claims of a recovery are, with the suggestion that George must similarly have indulged in recreational chemicals even to suggest that the economy is improving. George’s partying also shows that to the Tories, there’s only a drug problem when the Proles and Labour do it. Otherwise, like bullying at Eton and the school sexual abuse, whose reporting Gove is so keen to block: just jolly high jinks which the victims should put up with, no matter how much they are brutalised or psychologically scarred.

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