The Labour Government

[hampshireblue]

It was interesting to hear what Richard Murphy had to say only a few minutes after the press conference.

Look up the session he did with Zack Polanski. I like Murphy much more than I used to but you have to take into account his basic philosophy of Modern Monetary Theory and it isn't for everyone as it's so radical. A good book to read is the Deficit Myth.

 

[The Future’s Blue!]

Thought Reeves’ briefing was the best I’ve heard off her so far, and gave a bit of reality to the country of where we are. Time to be honest with the UK and state why we are where are, and would like more said about the financial crash, Brexit, COVID, the various conflicts, and what America has brought to the world.

Would now like to see less of what the Tories did, what Reform could do, and how the rest are inconsequential.

Now time to do your job, make difficult decisions, implement policies that are good for this country, and not listen to a media that you will never win over.

Also, move away from being ruled by the OBR and markets. Be careful, but make them work for the country, rather than themselves.

 

[TinFoilHat]

Its difficult to sell train drivers wages not being decent mate.

I can't argue they aren't.

Just a point when some of them moan about it. Won't hear the end of it at work.

 

[NPBlue]

Look up the session he did with Zack Polanski. I like Murphy much more than I used to but you have to take into account his basic philosophy of Modern Monetary Theory and it isn't for everyone as it's so radical. A good book to read is the Deficit Myth.

I wouldn't describe him as a radical. He's switched on when it comes to the failure of neoliberalism and makes many valid points with regard to who is really controlling and benefitting from government policy.

We need more anaylsts like him explaining what is really going on.

 

[gordondaviesmoustache]

Bizarrely, all three of the organisations you have mentioned have had widely reported massive problems over time, so yeah, I do!

Struggling to think of any privatisation successes TBH, but I'm sure you'll be able to furmish me with a lengthy list...

Telecommunications for sure. Maybe British Airways, and the cross Chanel ferry companies. And there were some publicly owned hotels. Part of British Rail. They will be better run now.

So there’s a few, limited examples.

Definitely not utilities, the railways or the prison system.

Some things are unquestionably better run by the State.

 

[Brewster's millions]

It was interesting to hear what Richard Murphy had to say only a few minutes after the press conference.

I have to say that I lost count of how many times he contradicts himself.

His central theory around the public finances is that the number of gilts in circulation is completely irrelevant, as ‘the City’ has to buy them regardless of price, and so Reeves can essentially run deficits as large as she wishes. This is how the economy really works, according to Murphy; higher bond yields are a good thing and any impact on the exchange rate from unsterilised QE is of course ignored.

And yet he still regards the need to end quantitative tightening as critical, and he would remove BoE independence in order to force a stop. Now you would think that if the level of gilt issuance is of no significance to the public finances, because the City has no option but to buy them, then the BoE effectively increasing issuance by £70bn a year would also be irrelevant. And yet quantitative tightening is apparently a critical issue for the public finances, and Reeves is according to Murphy a bit of an idiot for allowing it to continue.

 

[Ifwecouldjust.......]

Telecommunications for sure. Maybe British Airways, and the cross Chanel ferry companies. And there were some publicly owned hotels. Part of British Rail. They will be better run now.

So there’s a few, limited examples.

Definitely not utilities, the railways or the prison system.

Some things are unquestionably better run by the State.

Run better for / by the companies that own them but not for the consumer / original investors.

It was shown by Labour that if we had retained Open Reach (as a sole internet provider ) the savings to the British public would be in the region of £20 billion whilst Open Reach would have retained their profit margin. In addition the entire UK would be on-line.

 

[hampshireblue]

I wouldn't describe him as a radical. He's switched on when it comes to the failure of neoliberalism and makes many valid points with regard to who is really controlling and benefitting from government policy.

We need more anaylsts like him explaining what is really going on.

I agree with you. It's MMT that is radical not him per se.

 

[Vic]

Thought Reeves’ briefing was the best I’ve heard off her so far, and gave a bit of reality to the country of where we are. Time to be honest with the UK and state why we are where are, and would like more said about the financial crash, Brexit, COVID, the various conflicts, and what America has brought to the world.

Would now like to see less of what the Tories did, what Reform could do, and how the rest are inconsequential.

Now time to do your job, make difficult decisions, implement policies that are good for this country, and not listen to a media that you will never win over.

Also, move away from being ruled by the OBR and markets. Be careful, but make them work for the country, rather than themselves.

As Reform has already junked its manifesto for the last election (and for Pochin's election by six votes in Runcorn) with its promised tax cuts, "what Reform could do" has been proved to be "say anything to get elected".

 

[Vic]

Telecommunications for sure. Maybe British Airways, and the cross Chanel ferry companies. And there were some publicly owned hotels. Part of British Rail. They will be better run now.

So there’s a few, limited examples.

Definitely not utilities, the railways or the prison system.

Some things are unquestionably better run by the State.

This British Airways? https://travelweekly.co.uk/news/ba-covid-recovery-bid-boosted-by-2bn-bailout

This ferry company? https://en.wikipedia.org/wiki/P&O_dismissal_controversy

These privatised hotels?

'Get around the table or get out of the way,' is Peterborough MP's demand to Great Northern Hotel owners

The Great Northern Hotel owners are being urged to ‘get around the table or get out of the way’ ahead of the start of work on Peterborough’s Station Quarter regeneration.

www.peterboroughtoday.co.uk

MP slams 'blight on the city' Adelphi and urges owners to sell up

Kim Johnson says famous hotel is causing "reputational damage for Liverpool" amid multiple investigations and complaints

www.liverpoolecho.co.uk

(A bit cheeky - a lot of the old railway hotels are fine, including the Manchester Midland and Trump Turnberry...)

 

[Brewster's millions]

As Reform has already junked its manifesto for the last election (and for Pochin's election by six votes in Runcorn) with its promised tax cuts, "what Reform could do" has been proved to be "say anything to get elected".

Quite right Vic.

At the very least I hope Reform offer up a fully costed manifesto at the next election, providing full disclosure around the two or three taxes they intend to change (maybe minor VAT changes and something perhaps on non-doms) and provide a total figure for the amount they intend to raise through taxation, which will only likely be a few billion. It would also be good if they promised not to impact working people.

Obviously that would only be worthwhile if they intend to stick to it once elected. It would all be a bit shameless if they promised only minor tax changes and then started raising an extra 30, 40 billion every year because they lost control over public spending.

But then again, some people will say anything just to get themselves elected. Bloody Farage, eh?

 

[Kirkstall Blue]

Lammy highly emotional and aggressive on his defence of another prison cock up. He’s been on the run for a week since the 29th October , the police were not informed until the 4th of November the delay is ridiculous for the police tracing/finding this man :( still trying to find the detention centre:(

 

[WRicko]

"Cheap labour facilitates labour intensive roles which absolutely reduces UK productivity". Not if it enables a firm to start up and produce something that wasn't being produced before.

Test question: are Just Eat and Deliveroo good for UK productivity?

Probably more productive than Individual orders for takeaway with individual restaurants and takeaways directly. Shares delivery system. The App is tech. Now you have kitchens for takeaway orders in big warehouses. It also allows people to work lots of hours or a few extra hours on top of day job. It’s also not like takeaways didn’t exist before the supposedly cheap labour

 

[mosssideblue]

Lammy highly emotional and aggressive on his defence of another prison cock up. He’s been on the run for a week since the 29th October , the police were not informed until the 4th of November the delay is ridiculous for the police tracing/finding this man :( still trying to find the detention centre:(

He’s rightfully frustrated

 

[Claytop]

 

[Kirkstall Blue]

Lammy needs to sharpen up his act or he will be replaced.

 

[WRicko]

Run better for / by the companies that own them but not for the consumer / original investors.

It was shown by Labour that if we had retained Open Reach (as a sole internet provider ) the savings to the British public would be in the region of £20 billion whilst Open Reach would have retained their profit margin. In addition the entire UK would be on-line.

How do you get those figures for open reach etc seems hard to believe is this because Sky etc don’t put there own cables in but pay bt or is it because Sky etc pay for access to bt cables or both ? Or is it because we now have multiple sources of tv / internet apps that we have to pay for probably slightly different point and more related to things like football on tv

 

[hilts]

Sounds like these dangerous pensioners will be terrorising our streets for a while longer yet.

 

[Gray]

Lammy highly emotional and aggressive on his defence of another prison cock up. He’s been on the run for a week since the 29th October , the police were not informed until the 4th of November the delay is ridiculous for the police tracing/finding this man :( still trying to find the detention centre:(

What a laughing stock of a country we are becoming.

 

[Kirkstall Blue]

What a laughing stock of a country we are becoming.

The prison service is broken this government like the last not getting to grips with the safety of the people. It’s Lammys place to inform the house of the latest inadvertently released prisoner. He’s to busy protecting his own reputation to answer a straight forward question and loses his temper, instead of admitting a further prisoner escape