Calm down, calm down…

THE RIGHT wing blogs are having a collective hissy fit this morning, and I can’t make up my mind whether it’s because they’re genuinely upset at the prospect of the government’s economic plans being successful (which we all hope for, don’t we, people?) or because they reckon a today’s announcements will bag the next election for them. If the latter, why the ostentatious outrage?

Iain Dale even repeats that old myth about Labour being responsible for the economic crisis here (“… the Government plans to spin itself out of the financial mess it has got itself into”), without explaining whether or not he blames us for it happening everywhere else in the world as well.

I shall, of course, be offering my own thoughts after the chancellor has resumed his seat this afternoon.



Filed under Blogging, Economy, Labour, Politics

17 responses to “Calm down, calm down…

  1. John

    People have a right to be concerned about the deepening debt crisis this Government has put the country in (and yes I do consider this Government to be largely responsible and slow to react). At some point it has to be repaid and probably through taxes on the ‘middle earners’.
    I have lived within my means,saved for a ‘rainy day’, worked hard to pay off the mortgage, saved regularly in a personal pension, only to sit back and watch it evaporate under a Labour Government.
    I doubt whether the £2.50 saving per £117.5 spent will make many people go out on a spending spree.

  2. Guthrum

    Iain Dale even repeats that old myth about Labour being responsible for the economic crisis here

    I wonder which party was in charge of Government Financial Management in the last ten years then, I wonder who split the regulatory regime into three then so when we had the first run on a bank in 15o years they all stood around watching the car crash.

    Who was it who said they had ‘cured’ boom and bust.

    If its any comfort I think the Tories are just as incompetant, we have had enough booms out of them in the last fifty years as well.

    Giving a 2.5% cut now so that VAT can go upto 22.5% is just playing politics, not dealing with the economic mess as it stands.

  3. Nick the Greek

    Its a shame that the Tories have no real ‘big-hitters’ on the front bench who can show Gordon Brown for what he really is, incompetent.
    It drives me mad to hear him spout the same old spin. ‘global, hard working families, doing all it takes’.
    Oh yep and we can add to this spin; 10,000 roof laggers!! The maddest idea ever.

  4. richard

    Yes, a massive unfunded tax cut with only a pitiful reduction in Public spending, coupled with 3-5 years of substantially higher income tax from 2010 (coincidentally just after the next election) is just what the doctor ordered.

  5. quentinthecrisp

    “Coming soon Tom’s choice of the best Christmas hits……”

    What’s that all about Tom?

    We have had spin-along with Tom, do we now have sing-along with Tom? 🙂

  6. Clearly Tom you don’t understand much about economics, neither are you able to recall the economics policies of the Labour governments that so deeply tarnished the ’70s of my childhood. Historically adjustment of sales tax has had little effect on macro-economic cycles but considerable impact on exchequer, do you consider this desirable? Similarly increasing taxation on the upper-middle class tends to quite badly depress small business due to the spending choices of that group.

    It may help if you just stopped seeing everything through your personal political lens and awoke to the fact that economics depend on logic and mathematics rather than rhetoric, unless your opener is an admission that the right have a better grasp of both of those quantities?

  7. Johnny Norfolk

    I lived throught this last time you were in power. It failed then and we had to have the IMF bail us out.
    This time it is worse . We are doing the same failed things again. Pleaee tell me Tom why it did not work last time and why it will this.

    People are right to be very concerned.

  8. madasafish

    Well Tom , you clealry do not believe we are in a financial mess : so by your logic it cannot be anyone’s fault becasue there is no fault.

    Or do I misread you.

    Are we in a mess but it’s all someone else’s fault.

    If you believe the latter, then .Well we can all draw our own conclusions.

    Governments are supposed to plan for emergencies…clearly this is not one.. as it is unplanned…

  9. Letters From A Tory

    The reason that right-wing blogs are having a ‘hissy fit’ is that Labour’s plan to stop the rot in our economy is going to bury this country even further into debt and is unlikely to have any tangible impact on the speed of a recovery. Brown and Darling should have focussed on getting the banks to loan more instead, which would be infinitely more effective and cheaper too.

    That clear enough for you, Tom?

  10. Gords Gnome

    These measures are just rearranging the deckchairs on the titanic.

    Its going to be a painful few years and this is going to make it worse not better. Its time to realise that public services are draining the country dry and to keep the level of spending so high is madness.

    Of course if your pension is as good as a self serving MP’s all that matters is that you hang onto the gravy train for as long as possible and let the rest of the country rot.

  11. Steve

    “old myth about Labour being responsible for the economic crisis”

    are you one of those who think the housing bubble was a good idea then? We have a whole generation that has one foot in the bankruptcy court with stupid levels of mortgage debt.

    And the really evil thing is that Gordon spotted the problem years ago, and stood back and did nothing at all about it.

    Yes Labour is responsible for the crisis, because America’s problem never needed to have spread to these shores.

  12. wrinkled weasel

    Tom. Get help. Get some help now. Ask your counsellor about “cognitive dissonance”.

  13. Chris' Wills


    I assume that you and your brothers and sisters in arms are going to award yourselves a pay rise to cover the tax increase for high earners.

    I haven’t heard of any MP or senior banker taking a pay cut or in anyway suffering from all these problems.

    Yes you and your party are responsible for the massive debt the UK is under, you and yours had already burdened our descendants with massive off book debts such as pfis. Now you’re adding to the pain whilst ensuring you don’t suffer any ill effect.

    You are now trying to pretend its all the fault of those nasty foreigners.

    Accepting responsibility is something grown ups are expected to do. Sad to say no one in NuLiebor accepts culpability for their own actions and few have even reached moral teenagerhood.

    Always blame someone else and if you can’t mock those who point out the truth. Its the New Labour way.

  14. Kevin Boatang

    Tom Tom Tom. You just don’t get it do you? Darling is about to plunge this country into decades of economic disaster. The last Keynesian splurge led to the IMF bail out of the mid-seventies.

    Listen to what people are saying rather then get all excited about the socialist utopia we are now in!

    We need a suspension of NI and business rates for all small businesses, we need a percentage of the same for larger companies. We need a slashing of interst rates and a removal of stamp duty for all first time buyers under £250,ooo.

    And most of, the reason the ‘right wing blogs’ are having a hissy fit Tom, is because we want a slashing of public spending, not an increase. It is a total myth for the left to claim that it is spending money on ‘public works’, it is not. It is spending money on regional regeneration schemes, vast numbers of managers and press officers, ‘getting people back to work in a market where their are no jobs because we’re in a recession’ schemes and of course Iraq.

    Brown deregulated the derivative markets, Brown messed up the pensions and created the buy-to-let bubble, Brown ignored warning after warning about the consumer debt problem and Brown used PFI as state policy rather than a stop gap.

    And it is Brown yesterday who had the cheek to claim that it was a global probelm, not a British one. Because, of course, the City isn’t a centre fo the world’s financial markets or anything.

  15. iain ker

    Iain Dale even repeats that old myth about Labour being responsible for the economic crisis here.

    Ha ha, Tom, nice bit of fishing here. You’re after Kevin Maguire’s title of ‘Most Stupidest Blogger On The Planet’ aren’t you. At least he can blame his guff on ‘friends’.

    If I were you I’d stay away from economics and stick to your strengths; X Factor, I’m A Celebrity, and Dr Who

  16. willstobart

    Not very nice comment there iain. Tom might be economically illiterate, but so are most Labour MPs, so why pick on him? He seems quite a nice chap otherwise.

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