Terrible Liberal Democrat policy blunders: they’d impose permanent austerity
Evolve Politics has called this one right, I’d say.
Starting from the terrible position into which the Tories have plunged us – huge and increasing national debt, with profitable public services privatised – it would be impossible for them to provide the investment we need and meet their “budget surplus” rule.
It’s playground economics – and may be worse even than the Tory economic plan revealed by Sajid Javid a few days ago.
The Liberal Democrats have slammed Labour’s plans to invest in public services and promised to put Britain into a state of permanent austerity if they win power in the upcoming General Election on December 12th.
Announcing the party’s economic vision at a speech in Leeds yesterday, the Lib Dem’s Deputy Leader, Ed Davey, hit out at Labour’s promise to pump investment into the NHS and other public services by labelling the plans as “fantasies” which would wreck the country’s finances.
Davey also promised that, if they attained power, the Lib Dems would implement a fiscal rule which would compel them to run a permanent 1% budget surplus at minimum.
Davey’s fiscal rule pledge would mean that, under the Lib Dems, spending on public services would remain permanently lower than the amount brought in through tax reciepts.
The Lib Dems’ plans would effectively prohibit the party from providing any extra investment into public services, such as the NHS or schools, unless the government were able to raise more money through tax rises or spending cuts elsewhere – even if the services were in desperate need of extra funds.
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showing more of their true right leaning colours.
Aaaarrrggghhhhh no, Davey, no! How many times do I have to say it?!? You CAN’T run the economy at a permanent surplus, because it means the private sector has product going unconsumed. It will cause a recession, and when there’s a recession, tax yields go down and the National Debt goes up even more quickly.
I thought with Nick Clegg gone, these sorts of Primary School economics ideas would be over and done with at the LibDems. How naive of me.
Borrowing to invest makes good sense at a time of such low interest rates.
the Tories were never very clever, got by on blagging and lies and plebs not smart enough to work it all out…..
LOOKS LIKE THE LIB-DEMS DIDNT LEARN MUCH AT SCHOOL EITHER……..think of all the VAT not collected while people are struggling to get by and not buying more than they have money for which in so many households is less than the minimum of food they need, no new clothes or shoes(charity shop stuff as far as i know doesnt attract VAT.correct me if i am wrong on that.). taxes not being collected from those living on the street(no council tax or bedroom tax to pay) or the jobless/low paid (not paying income tax because they dont earn enough) .must be loads of other examples i cant think of at present.