Thursday 8 April 2010

More Businessmen sign Tory NI letter

Yes, this must now be getting on for a big chunk of the FTSE250, let along getting a Small Business' letter together - I would imagine that could fill the Telegraph, let alone the letters page..

My take on this part of the election though is that it is still a sideshow, well managed by Labour. For Labour have stuck to their mantra of Tories being irresponsible. Whilst the Tories fight this they are missing the main game.

It is the current Government who have saddled us with a multi-generational debt normally found only after a major world war. not the opposition, it is they who lack all credibility.

It is also the Government who ducked a spending review that would allow the public to see the truth, which is that £6 billion is nothing, compared to the £60 billion a year that will really need to be found in real cuts from public spending. Not time for distincition between front line or back office (incidentally I always feels for the back office people here, much maligned we all need IT and HR etc), there will be massive and painful cuts.

Ideologically the Tories are right, but they are missing the focus on the real issue, which is the Government's total incompetence.


roym said...

isnt there a danger also of this appearing to be business "fat cats" jumping into bed with the tories?

Steven_L said...

Anyone read that BIS (not Mandy's bunch, the Swiss lot) report on public debt and the old-age timebomb?

Scary stuff! Even if we froze old age related committments at 2011 levels, we would need to run an average fiscal surplus of 3.5% to get the debt/GDP ratio back to 2007 levels by 2030!

CityUnslicker said...

Roym - Yup agree with that. Although as it affects everyone in work i would hope it does not do too much of this. The vast majority out of work will be voting labour in any case, if at all.

SL - An utter nightmare never to be discussed by politicians. Having said that these reports are like climate change, a small change here and there and they all come out differently. move the retirement age to nearer 70 and the problem vanishes for example

Steven_L said...

My solution of outsourcing old age care to the third world is by far the best option.

Demetrius said...

The Automatic Earth web site from the USA was going on about all the UK pensions deficits yesterday. If even the Yanks have noticed it must be bad.

Budgie said...

CU said: "Ideologically the Tories are right, but they are missing the focus on the real issue, which is the Government's total incompetence."

This is the Tory story. People have watch amazed as Cameron fails, and fails again, to focus on Labour's economic illiteracy and general ineptitude.

Cameron is so close to Labour that he cannot see anything substantial to attack. So we get froth like the yoof camps.

Bill Quango MP said...

Sir Stuart rose under very sustained attack on the breakfast show on 5 live. Interviewer really going for him. In the end he had to almost painfully explain to the reporter that although a 1% rise sounds low, it is £10 million pounds a year to M+S.

What he implied,but didn't say was that one way to save £10 million quid quickly is to axe 1,000 sales staff.

Even then the interviewer didn't get it.

CityUnslicker said...

It is like last night's QT - the level of economic ignorance is fantastic. Sadly I think even Cameron is taken in by this - however you can't go all negative and austerity as the public won't vote for it - truth or not.

Anonymous said...

Cant we just renege on all this debt? After all we are a big country with an army and whatnot so if they sent round the bailiffs we could have them all shot. Just a thought...

Jonathan said...

Economic ignorance is near total. The number of people who know we are in a bit of mess but think GB is some sort of economic hero is sad.

People seem to want to ignore the problem right up until we end up like Iceland/Ireland/Greece and then they will try to blame someone else instead of accepting it being their fault for voting irresponsibly.

Labour know this ignorance exists, which is why they will make a big fanfare about promising no raises to Income Tax, knowing they can manipulate the thresholds, raise NI but still fool the incredulous into believing taxes aren't going up.

Bill Quango MP said...

Sadly not Mutley. Midland bank decided to lend all of its real and illusary money to Argentina in the 1980's. When the bank went to ask for its money back the Argies told them to sod off. Seeing as they had bought tanks with all that loaned money the bank could do nothing except fold up.

But then Argentina itself went down the pan. All those pans being banged in the streets as the government said today 1 peso is now worth 1/4 of a peso.

You can't beat the banks. Even today when you own a fair few banks shares yourself even if you didn't want them.

Anonymous said...

Calm down calm down! Fact is that you start an election campaign with your second strongest point, move on to your third weakest point and then end on the strongest point.

Also, you got to be a little bit careful about focus on the economy. The latest figures the government have pulled out of the hat have shown the economy growing strongly.

However, the Tories have been smart today by talking about where the savings could be made. Some in the public sector will know their jobs are at risk and will vote Labour - but the majority will see their jobs as safe and will feel free to vote as they choose.

CityUnslicker said...

Mutley, We will probably default in a way becuase the Pound will get shredded and we issue all our debt in Pounds. Really that will be the only way out in the end unless the Politico's grow some balls which they show no sign of doing.

Anon - A balanced piece at the end, I hope you are right. Perhaps the manifesto launches will generate more light and less heat.