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National politics

Labour wants to screw “the Many” again

The emetic “Made by the Many” is an emotional appeal so typical of Labour party political broadcasts. Much of the footage and commentary could be used by any of our parties trying to show that they were aligned with ordinary working people.

The banks seem to be a target. No acknowledgement that it was the last Labour government that took banking supervision off the Bank of England and supervised the implosion of the idiot Scottish banks. Our banking crisis was largely local and driven by stupid business models (lending interbank funds in the case of Northern Rock and dumbass commercial lending in the case of the Arc of Prosperity banks – RBoS and HBOS failed in the same way as the Icelandic and Irish banks). Gordon Brown and Ed Balls are the villains of that story.

Of course the 45% tax rate is mentioned notwithstanding that Labour had the 50% rate for a full 31 days out of its 13 year term of office and that the under the Coalition the richest will pay more every year of this government than in any year of the last government.

The largest omission in the piece is that “the forgotten wealth creators of Britain” were of course forgotten by Tony Blair, Gordon Brown, Peter Mandelson, Ed Balls, Ed Miliband, etc. All Miliband is offering today is a promise to bribe people with their own (childrens’) money. Don’t be fooled again.