Boy oh boy, could someone have Ed in for a little sit down and explain some basic economics to him?
He will tell delegates in Liverpool: “Let me tell you what the 21st-century choice is: are you on the side of the wealth creators or the asset strippers?
“For years as a country we have been neutral in that battle. They’ve been taxed the same, regulated the same, treated the same, celebrated the same. They won’t be by me.”
Asset stripping is the very definition of wealth creation you twat.
At root, wealth creation is the moving of a resource or asset from a lower to a higher valued use. This is as true of labour as it is land, capital, machinery, a building (to whatever extent these are not the same things).
If we move a human worker from a job where we value their production at £5 an hour to one where we value it at £10 an hour then we\’ve created wealth. £5 an hour of it actually.
True, how that new wealth gets distributed can be \”good\” or \”bad\”, dependent upon your prejudices, but it\’s inescapably true that we\’ve just created that £5 an hour more of wealth that can be variously shared.
This is also true of a piece of land. That old car factory lost money each and every year. That new supermarket on the same site will make it. The value of the land as a supermarket is greater than the value of the same piece of land as a car factory. Moving the land from being a car factory to being a supermarket is both asset stripping (or at least can be) and increasing wealth. By definition it is, wealth has increased by the profit made by those doing the asset stripping.
If you\’re incapable of grasping this point then sorry but you\’re simply ignorant.
Hmm, no, OK, there is a way out of that: you think we\’re ignorant which might be worse.
And get this bit:
While not spelling out the detail of how venture capitalists in particular could be assessed, Mr Miliband believes that a tougher tax regime could be imposed on some firms deemed less responsible than others.
How much tax you pay will be dependent upon the whim of Ministers. Of whichever Ministers are in power at any one time.
OK, hands up, who can think of a better way of introducing widespread corruption into British life?
Yes, yes, I knew I wasn\’t going to like whatever Mr. Adenoid blathered about what he was going to do but really, this is just outright crass stupidity, unusual even for a politician.