Wednesday, 14 April 2010
Do the Lib Dems pass the economic competence test?
Bu what are the key ideas they have offered today to try and turn the UK economu around? Well one is the moving of the free tax band to £10,000. I like this idea. It works in combination with cutting back on benefits - someting which the Lib Dems allude to but do not say. It is a step forward to making work pay.
Also they have a good idea in breaking up the banks - whatever people say, too big to fail is true. We need to get out of this mindest and also the huge scale of the banks makes them unweildy organisations even if the profits are good.
They have identified some good cuts for public expenditeu too, £3.1 billion, not enough but a start.
Sadly then it starts to go wrong, a huge greenwash scheme to flush all this money away on useless windfarms and other green guff. Oh dear and a limit on bankers bonus's - oh dear, the politics of envy. And then the need to publish public companies salaries of more than 200k, again, why?
And then onto the mansion tax, and the increase in pension taxes for all higher rate tax payers and then a ludicrous idea of regional stock exchanges - AIM is struggling how on earth are regional ones going to get any liquidity.
All in all this is less Lefty Wibble than it could have been, but is far closer to the Labour manifesto than the Conservative one. There are some good ideas, but the tinkering and social micromanagement is more statist than Labour - where is the Liberal in Liberal Democrat?