To worry about a run on the pound under a LABOUR government

[littlebillie]

Jeremy Corbyn: It's right to plan for run on pound
www.bbc.co.uk/news/uk-politics-41393021

[ForalltheSaints]

It is planning for something that is unlikely for a long time.

[ThroughThickAndThin01]

Well it's not going to be imminent. A lot may have happened before there's a Labour government.

[KarlosKKrinkelbeim]

Indeed. Me leaving the country, for one thing.

[redsquirrel2]

Bye Karlos

[imoverlyengaged]

Let's not lose track of the fact that had it not been for Jeremy Corbyn, Labour would have been in power for the last five years.

[KarlosKKrinkelbeim]

It's alright, no imminent danger - I'll be around for a bit voting Tory, as will quite a few other misguided souls

[ThroughThickAndThin01]

Really?

[strangestdirection]

I don't think we. An blame jezza for the full last five years of Tory rule.

[Frequency]

I see what you mean. Like, who wants a plan for if things go tits up? Not the electorate, that's for sure.

[littlebillie]

what about the Unions claiming power over the party, if we haven't voted them in how can they claim to have power?

[BrownJenkins]

I'm preparing for a Zombie Apocalypse.
Wonder which one will happen first.

[Pigface1]

Well they have to plan for it don't they? As it would definitely happen pretty much immediately if JC were elected.

[littlebillie]

Are we all comfortable with ambition to bring down capitalism and go the way of Venezuela? Run on currency in the name of socialism

[Frequency]

Are we all comfortable with ambition to bring down capitalism and go the way of Venezuela? Run on currency in the name of socialism

I'm not sure we read the same article. The one I read was about planning for worst case scenarios, not things JC was hoping to achieve.

Did I read the wrong thing? Is there another article where he talks about his ambition to run the country into the ground?

[littlebillie]

Labour governments during the 1960s and 1970s came under financial pressure in the markets, leading them to devalue the pound, by lowering the exchange rate, on more than one occasion.

What an ambition

[Papafran]

Let's not lose track of the fact that had it not been for Jeremy Corbyn, Labour would have been in power for the last five years

What? He's not even been around for 5 years.

[Believeitornot]

What government was in power during black Wednesday 🤔

And the last two rating downgrading 🤔

But I guess it makes sense to blame labour for absolutely everything.

Honestly, don't people read economic history.

[littlebillie]

www.google.co.uk/amp/s/amp.theguardian.com/politics/2016/oct/12/labour-liam-byrne-lowest-point-theres-no-money-note

No money left after last labour government

[thecatfromjapan]

If it happens - and I think it's massively unlikely - it will be after rationing and food shortages caused by Brexit.

It was an example of extreme-scenario planning. Government's-in-waiting should do that.

The real scandal is that our present government has a staff turnover of 20-25% at its Department for Exiting Brexit, where planning for a real set of scenarios is going at a snail's pace. Apparently, Civil Servants in the Dept. are spending time planning for how to cover their backs for a post-Brexit Chilcot-style enquiry (into why they didn't prevent an economic disaster).

I'd say, spend less time worrying about hyper-imaginary scenarios.

[Frequency]

Some colleges are still taking on new starters, perhaps an economics or politics course might of some help, OP?

[YokoReturns]

Yeah, I think George Soros personally thanked Norman Lamont when we crashed out of the ERM (for the Tories on here: he was Tory Chancellor of the Exchequer in 1992, I know you’re not too hot on your history).

I’ve also seen Tories on here claim that the 3 day week was under Labour. Ted Heath was PM in 1973.

Disclaimer: I’m not particularly a Corbyn fan, or any politician/party for that matter. But I will always vote to keep out the Conservatives, at all costs.

[littlebillie]

https://en.m.wikipedia.org/wiki/Winteroff_Discontent

[GrockleBocs]

Oh stop littlebillie. You're embarrassing yourself now.

[YokoReturns]

Fuck that note, how is that proof that ‘there was no money left?’. There’s no such thing as ‘no money left in the coffers’, the budget isn’t some stash of cash under a mattress

[GrockleBocs]

Jim Callaghan received a similar note when he became Chancellor.