Labour trully presided over a fantasy economy which saw Gordon Brown declaring the age of boom and bust over. Instead we saw boom, boom, boom CRASH.
Now the Labour architects of our ruin are riding high in the polls, crowing and weeping the crocodille tears of opposition for the misfortune they have manufactured.
Ball's analysis that PLAN A (for Austerity) as advocated by the "trainee Chancellor" George Osborne is self defeating by reducing growth and tax take. His PLAN B would spook the markets and see debt rising even faster.
We need sound heads and cool analysis - step forward Liberal Democrat Business Secretary Vince Cable. The Man who IS a trained economist (rather than jumped up Special Advisors made good like Osborne and Balls) and who predicted the Credit Crunch and warned against Gordon Brown and Ed Ball's neronian economic mismanagement.
Who will forget Labour Liam Byrne's negligent leaving letter to the Coalition: "The Money's Gone" and Who's laughing about that now as the Cuts bite ordinary and the vulnerable.
Ideas for Rescue
- Unlocking Growth - ending Whitehall regulations which limit growth and enterprise - for example which keep budding entrepreneurs on the dole for 6 months because of the regulations of the New Enterprise Allowance . (Keeping essential and sensible HR & Heath and Safety rules)
- Raising Trillions by selling unwanted and expensive and costly to run government assets to the private sector - eg London Government buildings costing £1000 per sq ft versus £8 per sq ft for office space in Yorkshire.
- Give Money to real people and to SME's instead of Banks by QE.
- Force Nationalised Banks to lend to businesses.
- Make Companies contemplating Redundancies carry out a full risk assessment on the potential for health impacts on those affected - ie stress, illness and suicide (extra 1,000 people per year since the recession started)
- Billet the unemployed on companies to sign on instead of labour exchanges - help them find work by signing on in the workplace and pay private companies for doing it.
- Encourage Regional Powers like China and Iran to take a positive role in Afghanistan by replacing British Troops in Afghanistan with a combined Iranian/Chinese Peacekeeping force. This might encourage a more positive dialogue with Iran in particular.
- Lower Fuel duty on petrol and diesel which acts as a tax on growth, consumer and business activity and is inflationary.
- Increase Road Tax on gas guzzlers to pay for this and a tobin tax on Bankers.
- Cut Taxes on growth and jobs - eg VAT, NI and Stamp Duty
- Increase Taxes on the Super Rich
- End Tax Breaks for the Rich/Super Rich - ie Pensions, Winter Fuel, Child Benefit