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Politics

I don't want to vote Tory...come and explain to me why Labour's spending plans won't end in disater

66 replies

Litchick · 06/05/2010 10:40

I'm a life long Labour supporter...but I'm really worried.

Let's put aside the Iraq war, ID cards, the disgraceful attempt to stop home education etc etc...

What's really worrying me is the economy. We owe so much. And yes I know some of it came from bailing out the banks which I think was the right thing to do ( if painful), but a lot of it is the refusal to curb spending when tax receipts are down.

I've been told by many an unreconstructed Keynesian that spending through the recession is the right way to go.

But......if we keep borrowing won't we eventually be unable to serice the debt? And what if our credit rating is down graded won't that exacerbate the situation?

Please tell me why, economically, it's the right course of action.

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newyorkshire · 06/05/2010 11:57

Maybe, if the conservatives are ''new''. can you explain why so many don't want a minimum wage [you know, seeing as they ''care'' about everyone]?

Cablepower · 06/05/2010 11:56

Our butcher broke down a few weeks ago because he can't compete with the prices of big supermarkets...so he's selling up. We are all killing our economy because we all shop in the monster supermarkets where everything comes from abroad.

My friends who are farmers are selling up. The supermarkets who drove down their prices for milk first time round are now bringing it in cheaply from abroad.

Nothing is produced or manufactured in the UK anymore. Look at the labels. We as consumers have turned our back and let the big monopolies control price.

The way forward is to break up the monopolies (which voting Tory won't achieve) and create new homegrown wealth which could be a Renewable Sector.

Environment = Lib Dem.
Economics = Vince Cable

Just an opinion

newyorkshire · 06/05/2010 11:54

Quite a few conservative mp's are against the minimum wage. If this comes to fruition, then a lot of bosses wil be ripping off workers, not all, but many.

ahundredtimes · 06/05/2010 11:53

Seriously ST - how do you know they're different? Honestly? I know it's frustrating when people hark back, and it feels like a lazy kind of shorthand. But do you honestly believe in compassionate conservatism then?

longfingernailspaintedblue · 06/05/2010 11:51

newyorkshire

What makes you think we can afford a smooth, transitional change?

Need I remind you that our deficit (purely in percentage terms) is bigger than that of Greece.

scaryteacher · 06/05/2010 11:48

Get this into perspective please, and drop the it's all Mrs T's legacy. She was ousted in 1990 I think, and we had another 7 years of Tory govt, with Major being returned as PM in 1992.

Mrs T went 20 years ago, so you judge a political party now on what it looked like 20 years ago, whilst expecting all the Tories to forget Healy ('til the pips squeak), and Wilson and Callaghan and the winter of discontent, 'because Labour is different now'. Well, so are the Tories fgs.

As for 'I just think that people shouldn't be ripped off on the back of someone elses prosperity.', do explain how the small business people are ripping others off? They presumably pay income tax, NI and VAT for themselves. How is that ripping anyone off?

newyorkshire · 06/05/2010 11:47

only problem with that is that if peoples personnal expenses are cut back too soon or too much [ie: ctc's], then they will be spending a whole lot less and there goes the story again. less spending, less demand, shopkeepers loose out, restaurants close, businesses close etc etc.
A more smoother, transitional, carefuly planned out over a longer while change is preferable isn't it?

wubblybubbly · 06/05/2010 11:46

This is about the only article I've found that talks about the state of the economy and what it means in language I can understand.

I have to confess it appeals to me as it's not quite so dark and gloomy as some reports I've read

stripeyknickersspottysocks · 06/05/2010 11:39

I agree that the way out of the recession has got to be by supporting business and growth, especially small businesses.

DH works for a small business and they've almost gone under recently, they think they will be safer under the Tories.

Personally I will be financially worse off if the Tories get in, but I've still voted for them as I think it'll be best for the country overall. I'm prepared to be worse off if it helps to get out of the recession.

All these people saying they'll vote Labour as they don't want their tax credits cut, etc. Well who do they think is paying for their tax credits? You pay for your own tax credits indirectly. If you have more tax credits then it either means that the money isn't there to spend on public services. Or you do what has been done for the past few years, give tax credits away and spend on public services, everyone is well off and happy but then oooops, people start to realise that the country can't afford it.

newyorkshire · 06/05/2010 11:37

sorry, not sweeded, I mean sweeden.
And, no I don't hate small businesses, we need them of course. I just think that people shouldn't be ripped off on the back of someone elses prosperity.

Roastchicken · 06/05/2010 11:35

I am all for spending money on public services, but we need to have the money to do so. Labour have made a big difference to public services IMO, but there needs to be an aadjustment to make things sustainable. Currently, public spending is at least 25% more than government revenues. (They always talk about % of GDP, but surely % of tax receipts is more relevant). Essentially this means that they have an income of £750 but spend £1000. This is clearly not sustainable. Greece has spent above its means for years and now look at the result.

In terms of the mix last time there was a big deficit in the early 90s, the tories filled it 50% with tax rises and 50% with spending cuts.

The fact that the debt is mature simply means that we don't need to refinance (basically remortgage) for a while. It doesn't mean the debt doesn't exist.

Litchick · 06/05/2010 11:33

I agree. Though, like everyone else I gulp when I receive my tax bill, and grumble as I write my cheque.

GB's recent increases on higher rate tax payers have not been greeted with a party in this household...but we would swallow them, for the nationa good. Whether I could support further increases? I think 50% is the tipping point. Paying more than half of every pound earned to the government feels unfair.

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newyorkshire · 06/05/2010 11:33

my really simple take on it again...

.. keeping people in work I think is preferable. Cant remember who said its like taking a drip away from someone who isnt well enough yet to live without it.

Personnaly, if I am taxed a bit more later, thats ok as rather that than loose my job [I am public sector worker] and I dont mind because under a labour gove at least it will go to public services. At least people will still have their homes, good schools and a good healthcare service etc! people moan about paying taxes, but then say isn't sweeded great...in Sweeden the taxes are huge but everything is run well and public services are excellent. You get what you pay for don't you?

Chil1234 · 06/05/2010 11:32

"One also wonders if we won't end up with enormous tax hikes at the ned of the day, to keep meeting the payments. "

GB has been steadily increasing indirect taxation since 1997. His planned rise in NI contributions is tax by another name. When Labour lost power in 1979 the basic rate of income tax was 34%.... rising to 83% for the highest earners. If spending isnt' stemmed at all that's the kind of tax levels we could end up with. And if net contributors to the economy have a lot less disposable income together with wage-freezes then growth is stunted just the same.

It's not an 'either or' of course. Spending and taxation will both get adjusted. But I think the Labour plans are less likely to achieve a positive outcome

ahundredtimes · 06/05/2010 11:30

We would gain more from them too, the Tories I mean.

But. . . we're part of a larger society aren't we, and ultimately how fair and just that society is matters v. much.

I think, anyway.

longfingernailspaintedblue · 06/05/2010 11:29

newyorkshire

Yes, those evil small businesses. Cafe owners and chemists are pure scum. Local bicycle repair shops are beneath contempt. And don't even get me started about newsagents.

Litchick · 06/05/2010 11:28

NY - that's true, but GB says the way out of the recession is growth...so by his own standards we need to support and encourage small and large business.

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Litchick · 06/05/2010 11:25

Well ther's fair...and then fair for me and my family.

To be frank, I have a lot more to gain form the tories in that regard.

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newyorkshire · 06/05/2010 11:24

They would! Conservatives are all about small business man and big. It was the conservatives who encouraged them to borrow, borrow borrow form the banks last time. And what became of those people? Repossesions, banktruptcy etc. The conservatives tax break for the top earners would also win the top large businesses vote. And small businesses may like the conservatives mp's thoughts on doing away eventually with the minimum wage and some workers rights that labour have brought in. It means more profit for them.

ahundredtimes · 06/05/2010 11:23

Yes, LC I think we will too.

So now you have to decide who has the fairest tax system!

snowlady · 06/05/2010 11:22

The institute of fiscal studies said the lib dems had slightly better policies than the other parties to sort the mess out so if you've had enough of labour and don't want the tories why don't you vote lib dem?

Litchick · 06/05/2010 11:22

NY - in theory that seems right. But in the meantime we will have to keep borrowing to meet all the spending pledges. Which makes the deficit worse and worse...it's all so circular.

One also wonders if we won't end up with enormous tax hikes at the ned of the day, to keep meeting the payments.

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ahundredtimes · 06/05/2010 11:20

ST. Yes except the Tories did pick up an ideology didn't they - and has been their problem for the last 13 years. I have no idea whether they have thrown it off or not, time will tell.

They're the party of the Establishment, traditionally, which allowed them to be pragmatic because they were, basically, In Charge, landed gentry, the church, the toffs etc.

Being pragmatic then became a code word for maintaining their own interests really. Also allows for slippery things like not opposing apartheid or Clause 28. "Oh' they say, 'we're being pragmatic, this is sensible'

whereas actually it's something else!

stripeyknickersspottysocks · 06/05/2010 11:19

Well Labour's spending has already got us in a mess so I don't trust them to sort it out now. They've been in charge for 13 years and the country is skint.

I'm taking heed from the fact that most large business have come out in favour of Tories, as has the Finanacial Times and everyone I know on a personal level who runs their own small business is voting Tory.

Litchick · 06/05/2010 11:17

Scary - for me, it's very deep in my psyche. My Dad was a miner. I remember clause 28. I remember the poll tax. I remember the callousness of the eighties.

But ti be fair, that is all old news. I do think that DC is a political and intellectual light weight. And osbourse...well...words fail me.

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