Labour must admit it messed up on the economy
While Labour delivered some good things, its economic record is nothing to be proud of.
Err, yes Neal. It\’s just that you\’re about 3 years behind the electorate and perhaps 15 years behind all who know anything about the subject.
But I\’m afraid that you\’re really going wrong later on.
But, crucially, it broke the state by redistributing (good) but through tax credits (bad) instead of ensuring companies paid a living wage.
It\’s going to be amazing all you living wage peeps, when you survey the wreckage of (even worse) mass unemployment brought about by imposing such a living wage.
What is the rate now? £8? £8.50 an hour, something like that? You just wait and see what will happen if you try and impost that on the economy at large.
I will admit I do find this all quite amusing. There were those who agreed that a low minimum wage would stop some gross exploitation but we must make sure that it\’s not too high. For there really is an effect on employment rates and we don\’t want to have too much of that.
But here we have exactly the old minimum wage arguments bak again, just they\’re pitched 25% above the minimum wage and called the living wage. It\’s all exactly the same bollocks all over again.
Labour must accept that economic efficiency and social justice do not go hand in hand.
Slightly worrying don\’t you think? You can just hear the next line…..thus we must be inefficient in order to be just.
Credibility will come from saying: we understand capitalism and we know when and how it needs to be regulated.
Snigger. No, credibility will come from showing that you understand capitalism. So you\’d better get reaqing laddies for you\’ve a lot to understand.