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

Of course the pound has been doing splendidly since Brexit.......😏

The Winter of Discontent is NOT the 3 day week, OP

I didn't say three day week

Although it seems to be quite fashionable to make shit up as you go along e.g Brexiters/current Tory government - who appear to have all the planning skills and foresight of the ancient Easter Islanders, it's actually sane for governments to mitigate against negative outcomes.

The impact of Corbyn government would be cataclysmic

Curse that John McDonnell for looking ahead to situations and planning a course of action. I mean surely politicians should rush into things with no plan if things go wrong? It worked out so well for the EU referendum...

Capricorn I think you win the thread for wry understatement.

www.taxresearch.org.uk/Blog/2016/03/13/the-conservatives-have-been-the-biggest-borrowers-over-the-last-70-years/

Conservatives consistently manage debt badly compared to Labour

Thanks Frequency but sharing different politics to you doesn't mean I need to be re-educated. That's a much different political system that even even Labour would envisage.

Christ scary why are the Conservatives seen as the party of no national debt, given those figures? People just believe what they want to believe (see my 3 Day Week example).

Bloody hell, politicians planning - whatever next

Why thank you thecatfromjapan.

I'd like a government that had plans in place to cope with adverse consequences of its policies. Unlike the government that held a referendum on Brexit and had no plans in place in case the vote went the wrong way...
Unlike the government that launched years of austerity and actually ended up increasing the deficit...

No money left after last labour government

You do realise that was bollocks. If there was no money left then the whole country would have ground to a halt.

Funnily enough it didn't.

FFS

Pound still higher versus euro than 10 years back. Before brexit.

Corbyn wasn't leader at the 2010 election. Although he couldn't get elected even against Teresa May's Tories.

I think that further currency devaluation under would be the least of our worries under a corbyn government (makes mental note to apply for dual citizenship for DC).

They aim to make this country a paradise similar to Venezuela. Where the biggest illegal import isn't drugs, its baby food.
Incompetents, the lot of them

Anyone else think John McDonnell passes an uncanny resemblance to the comedian Dave Allen?

capricorn do you feel labour has learned from mistakes of the Blair government when it comes to planning or lack of it?

sun there was no ‘lack of planning’, there was a subprime mortgage crisis in the US, which caused a financial crash worldwide.

Gordon Brown saved all of our arses by bailing out the banks.

They aim to make this country a paradise similar to Venezuela

Do some reading up and learn a bit before making such statements copied and pasted from the daily mail

They aim to make this country a paradise similar to Venezuela

Do some reading up and learn a bit before making such statements copied and pasted from the daily mail

^This

But we'll have our women only train carriages won't we -paradise indeed.
Nothing to worry about there at all.

They are quite right to plan for this as they know full well that money will flood out of the UK like a burst dam if they get in.

@Yoko

The reason that the banking crisis had such a devastating impact on the UK was that the size of the banking sector was so big in relation to the size of the economy. This happened on Brown's watch - though the Conservatives did nothing to put a brake on it.
It was a known risk. Countries like Germany did address it before it got out of hand. This is why the financial crisis had less of an impact there.
Other countries like Iceland and Ireland who allowed the same - or worse- to happen had similar devastating recessions.

Brown and Alistair Darling did do their best to mitigate the disaster. But we and our children and grandchildren will all have to pay for it.

Corbyn and Co will make it worse. They remind me of the Sandinistas in Nicaragua. Well meaning sixth formers with a half baked grasp of economics. Everyone votes for the sunlit uplands and ends up with hyperinflation.