Corbyn Goes for Broke with Radical Manifesto
The Guardian reports With the Polls Offering Little in the Way of Hope, Corbyn Goes for Broke
There is not much in the article worth reading. There seldom is from the left-wing Guardian who backs Corbyn, but the headline is at least accurate.
Labour’s Radical Plan Highlights
- Increase government spending by a massive £82.9bn a year, about 4pc of GDP, all paid for by rising taxes
- A £400bn “national transformation fund”, which would “add to the government’s debt” but isn’t in the headline figures.
- Nationalisation of rail, water, energy, bus, mail, and broadband companies
- Seizure of 10 percent of the shares in every big UK company and handing the shares to workers
- Raise the corporate tax rate to 26% from 19%
- An £11bn windfall tax on the oil and gas sector
- Free broadband internet for everyone
- Free shelter for the homeless
- Super-rich tax rate
- Tax on second homes
- Raise £8bn via a Financial Transactions Tax
- Higher inheritance tax
- Force landlords to sell homes to tenants at a “fair” price as determined by Labour
Labour Declares War on the City
The Telegraph accurately reports Labour Declares War on the City with Wave of Taxes.
Labour Manifesto Stuff of Third-World Dictatorships
Echos of 1983
Please consider Radical Corbyn Wishlist Has Echoes of 1983
Labour this week issued a manifesto even more radical than its election wishlist from 36 years ago.
HM Opposition wants to increase day-to-day government spending by a massive £82.9bn a year, about 4pc of GDP – all of it funded by extra taxation. That’s almost double what was promised ahead of the 2017 election, when Labour pledged £48.6bn of extra annual spending.
An additional £55bn a year will go towards investment, another 3pc or so of GDP on green energy infrastructure, more council houses and other forms of capital spending. That will be financed by additional borrowing.
The £80bn-plus of extra taxation “won’t hit ordinary people”, says Labour, coming entirely from higher taxes on the City, other companies and those earning over £80,000.
On top of the figures above, the manifesto outlines a £400bn “national transformation fund”, which would “add to the government’s debt” but isn’t in the headline figures.
“That’s simply not credible,” says Paul Johnson, of the independent Institute for Fiscal Studies.
Having presented the 1983 manifesto, Michael Foot ended up delivering Labour’s worst election result since the end of the First World War – resulting in his resignation and the Labour party splitting.
Not Credible
Tax Robbery
Referendum on Corbyn
On November 19, I proposed Fear of Corbyn Outweighs Fear of Brexit
- Brexit is fading as an issue, especially among women. Only 25% of women have Brexit as their number one issue.
- A whopping 47.7% of men are likely to vote for Boris Johnson vs only 36.1% of women.
- Check out the undecideds! Only 10% of men are undecided vs a whopping 23.5% of women.
- The election has morphed into a referendum on Corbyn and away from a referendum on Brexit.
Who Would Make the Best Prime Minister
Not even 18-24 year-olds prefer Corbyn. The only demographic in which Corbyn leads is 25-34 year-olds.
“Don’t Know” polls ahead of Corbyn among men, women, and age groups 18-24, 35-44, 45-54, 55-64, and 65-74.
See Fear of Corbyn Outweighs Fear of Brexit for more charts and other stats.
Lament from the Labour Marginals
On November 22, the Guardian reported ‘It’s More about Corbyn than Brexit’: the Lament from the Labour Marginals.
With three weeks to go until polling day, the Guardian spoke to candidates and officials in more than a dozen Labour-held constituencies.
One Labour candidate hoping to retain their seat in the West Midlands was extremely gloomy about their prospects, saying it “feels worse than last time”.
“It’s much more about Corbyn than Brexit,” they said. “I have people who are down as Labour supporters saying they won’t come out for me because of him. ”
Canvassers had detected a sharp gender and age divide. “Women and younger voters seem to be staying with us, and older men are more angry,” said another candidate.
Another candidate in a leave seat, who did not wish to be named, said he feared he would be hunting for a job after 13 December. “They don’t like Jeremy Corbyn and they don’t like our Brexit stance,” he said.
A colleague in a northern seat being heavily targeted by the Tories said it was “far too early to tell” and she was optimistic that the polls would narrow like last time. “I thought I was going to lose then, and I hung on. So let’s see if history repeats itself this time.”
Looking Like a Tory Blowout and Complete Collapse of Labour
Two days ago, I proposed Looking Like a Tory Blowout and Complete Collapse of Labour
Using the latest ComRes projections, I see something on the order of a 88 seat majority for the Tories. That’s based on regional projections.
Just today, I updated that post with seat-by-seat changes. Please click on the link for an update.
Without a Doubt, Boris Johnson United the Tory Party
On November 21, I proposed Without a Doubt, Boris Johnson United the Tory Party
Upon further reflection, I am wondering if I have that correct.
Perhaps this is more accurate: Without a Doubt, Jeremy Corbyn has United the Tory Party.
History About to Repeat
Unless the polls change suddenly and dramatically, and in favor of Corbyn, history is indeed ready to repeat.
Just don’t look for 2017 to be the model year. Instead, focus on the Echos of 1983.
Elizabeth Warren and Jeremy Corbyn
If Corbyn goes down hard, and he should on such a radically nonsensical platform, he will be forced out and Labour will also split hard.
US Democrats should take note.
Elizabeth Warren and Jeremy Corbyn are two peas in the same radical socialist pod.
Mike “Mish” Shedlock
10% of the shares of every UK company?
I wonder how far down the list of companies he will go?
Also a lot of these companies are really foreign companies. I wonder what the criteria will be for receiving the handed out shares? Will it be UK citizens only who receive, and why only the workers, why not the public in general? If the rules are completely silly, you might get a situation where there are so few UK workers that a part time cleaner might be given millions.
I wonder what the pensions industry think of this as well, as it will be mostly their shares that will be taken.
There are two points I’d like to make here.
Why are we dwelling on the polls? Didn’t just such polls predict a win for Hillary? Are we to believe that polls in the UK are somehow more accurate or honest?
It’s the economy. If the USA maintains a robust economy for another year, Trump has a big advantage. History seems to indicate that a recession is in the near future.
“Seizure of 10 percent of the shares in every big UK company and handing the shares to workers….”
Dilution is the solution.
Leading the poll with nearly a 50% score would be a Tory landslide and a government formed without a coalition. Labour needed to appear moderate enough that the Brexit party members would not vote Tory. Even though the Brexit part would be a very junior party, a coalition guarantees at least SOME friction within the government. An outright majority is a mandate for the Tory party to implement policy opposed only by voters, and not by a Parliament vote of no confidence.
Not sure the headline to this article is correct. Overnight, Labour has announced another “Last Desperate Act”. This concerns changes to women’s retirement age a few years ago that affected about 3 million women born in 1950’s, known as WASPI. labour will give them compensation for loss of pension entitlement as a one off payment – averaging over £15,000 per affected woman. Total bill approx £58,000,000,000 – 58 billion!!!! I can’t find that in Labour’s fully costed Grey Book.
WASPI are right about that though. It was terrible the way these women were treated when they introduced the new rules. They should attempt to soften the blow somehow.
LA Has More Vacant Homes Than Homeless People, Report Finds
https://laist.com/2019/11/20/los-angeles-housing-vacancy-homeless.php
And not a peep from any Presidential candidates or politicians about the real problem.
Warren lies and checks Indian to get into law school. Is that correct? Pretty hypocritical of libtards to run her when they are so worried about Trump breaking some law? Let Trump claim he’s a minority and see what happens.
I call bull. Hillary lost because she was pure centrist. In many cases, Trump ran to the left of her on both domestic and international issues. In the near future, the core electorate is moving rapidly left in direction. I believe Warren or Sanders would be far more competitive that Biden. It’s very obvious the boomer demographic is struggling with whats happening. Catch the wave.
I disagree with both of you. I think Hillary lost because she wasn’t “likeable”. I don’t think it was her positions at all.
I agree Hillary struggled with likability issues, but it still doesn’t take away from the fact Trump ran a very unorthodox Republican campaign. He was to the left of her on several key issues: trade and military adventurism. The other republicans candidates would never taken on those issues. I doubt they would have even campaign activity in Wisconsin or Michigan. They would spent the thrust of there time in Virginia ,Nevada, and Colorado focusing primarily on cultural issues of the past.
“You insulate yourself in the comforting bubble of Mish’s site …”
yeah right
I do not expect Trump to win.
The possible exception is if he runs against Warren.
Regardless, it is delusional to think Democrats will the Senate. You are even more delusional about Trump dying in prison.
Finally, my comparison is very accurate. Biden has a far better chance of winning than Warren for precisely the same reason Hillary lost and Corbyn will lose.
Too Radical and Too Big a Lightening Rod
Warren is a Marxist nutcase
If Trump can work things out with the Chinese, NK, and a few democrats get indicted, I think his popularity will go up and he would get re elected.
Biden has been in DC since 1972 and is by now (as we all know) totally corrupted. Nobody in their right mind can possibly think that he will “fix” anything, if elected. He will continue to be the faithful servant to corporate power that he has been for the past FORTY SEVEN years.
Tonight’s poll by Opinium is the first I have seen since Labour manifesto launch. Difficult to find good articles on it yet but basics: –
Tory 47%
Labour 28%
Tory manifesto tomorrow (Sunday). This was the point in 2017 when Tory/Labour gap started to shrink rapidly.
I wonder if they took it after the manifesto launch.
Here we are, taken on the 20th after the first TV debate last Tuesday.
https://www.opinium.co.uk/political-polling-20th-november-2019/
I think Corbyn could actually get in – under different circumstances. Things would need to be extremely dire economically, and they’re not at the moment. In three or four years time you could easily see an extremist (left or right) coming to power. Once a global recession kicks in anything is possible
Agreed.
Agree. The same goes for the Neo-Bolshevik lunatics in the U.S. They are at least four years too early. Sometime around 2024-28 the economic landscape will be ripe for this type of extremism.
Thankfully, it appears that the insane Neo-Bolshevik maniacs on both sides of the Atlantic will get the same electoral results – crushing defeat.
You keep tellng yurself that, I doubt that Corbyn will win much ground, probably lose some, but the GOP on this side of the Atlantic is headed for an epic landslide loss, the White House, the senate, and the democrats are going to enlarge their majority in the house.
You insulate yourself in the comforting bubble of Mish’s site and get your news no doubt from Faux, or Breitbart, but all over the world the average person is getting crushed by financialization, unreported inflation, and disgust with criminal governments such as your Fraudzilla leads, and it tickles me to death that the GOP has decided to ride that big fat orange Titanic all the way to the bottome with Tsar Cheato. The 2020 election will be such an win for the democrats that there wil be nothing Putin can do about it this time. Your maniac in chief is going to die in prison.
So, I really want to point out that for anyone here to compare the American right with the Tories is just childish. Johnson is not facing removal from office and having his mafia gangland crimes revealed in excruciating detail every day the way fatso is.
Final count for election 2020, GOP=57.9 million (morons) Democrats= 69.5 million. You lose so badly that the GOP brand will not ever regain it’s power in my remining lifetime.
I think that anyone claiming to know what will happen in the US is fooling themselves. Politics is a strange and quirky thing. For example, polls show that Trump’s popularity just hit the highest number that it’s ever hit during his time in office. And, who knows how voters will react next year when the advertising starts point out things like the fact that the lower 25% have fared much better under Trump than under his predecessors. I’m no fan of Trump, but it’s not true that there aren’t reasons some people might vote for him. I have no clue how the election will turn out.
Still hurting, Herkie, after all this time? Incredible. And all won by big, bad Putin too. Only a peanut believes Putin had a material influence on the last election. But, be my guest, it’s a free world.
You’re either off your meds or they have stopped working. Now repeat after me, Russia, Russia, Putin, Putin, Ukraine, Ukraine!
You forgot the moron moniker after the number 69.5 million….
We had people round to dinner the other night (from LA) and they were like: Putin, Trump election, Russian bots etc. And I was like: serious??!! Do you fckn believe all that sh!t. After all this time?
And it’s true. They do !! ‘Educated’ people are that dumb.
‘Progressives’
It frightens me just reading about it, let alone potentially living through it!
It should frighten everyone
Especially the rich foreigners being subsidized by working class UK citizens being priced out of London by their own tax pounds going to pay for the rich foreigners pricing them out of London, as the Boris & neoliberal Labour-ited take away the NHS they already paid for.