Apparently foreigners investing their capital in the UK is a bad idea

That\’s the gist of what Ritchie is saying here.

The FT’s noted this morning:

Qatar has begun talks with the UK government to invest up to £10bn from the gas-rich Middle Eastern state into key infrastructure projects in Britain.

Three thoughts. First, how come Qatar can do this and we can’t do the same? Our contribution to a state funded bank for this work is pathetic.

Second, why don’t we use QE for this instead?

Third, is this actually part of the deliberate plan to sell the state?

It\’s an odd position to take really, isn\’t it? Johnny Foreigner risks his hard earned capital so that we can live amongst an improved infrastructure. And this is bad because?

13 thoughts on “Apparently foreigners investing their capital in the UK is a bad idea”

  1. …it undermines his claim that the only way forward is massive levels of state spending underpinned by confiscatory taxation.

  2. This is bad because… because Ritchie doesn’t understand Economics and is simply blagging it. A man calling himself an economist would have heard of MMT and not suddenly discover he’s been an MMTer all these years and never knew it.

    P.S. He seems happy enough with the idea though of us having a sovereign wealth fund and investing it around the globe. Does this make him a nationalist?

  3. Oh God, it’s that “infrastructure” word again. It’s one of those words like “funding”, “workshop”, “consultation”, “social” (as a prefix) etc that once meant something useful, but now just acts as a red flag that you’re in the land of the Noddies.

    What are they going to build? Is it schools, is it hospitals, is it another fucking railway?

    Please, no more infrastructure. Enough with the infrastructure. It doesn’t do what it says on the tin. Please, stop. Take your infrastructure and shove it with your funding and partnering, your synergising and your social change, your consultations with stakeholders and your wellbeing focussed outcomes policies and shove it where the sun doesn’t shine.

  4. the BoE QE decisions are independant monetary desisions. Richie is conflating fiscal policy and monatary policy. the government would have to pay the borrowing back so the project would have to be a success and create the wealth to fund its own repayment, unlike if it is a loss to Quatar’s funds.

  5. So anyway, since the FT paywall and all that, what is this? Is it-

    The Qatar government investing in UK government projects, or

    Private Qatari companies investing in UK government projects, or

    Private Qatari companies investing in UK private sector projects, or

    The Qatari government investing in UK private sector projects,

    or what?

  6. Dennis The Peasant

    As anyone who has read Ritchie for any length of time knows, the boy is very much the imperialist. He’s forever going on about how much black Africans need the assistance and guiding hand of white lefties in the UK. And as an imperialist, the last thing Ritchie would want is having the Empire taking money from wogs.

  7. Why can’t we do this? Because our governments, with Murphy’s enthusiastic support, spent all the money and more while the Qataris saved theirs.

  8. Wouldn’t we have to borrow the money off the Qataris to do this?

    QE means we don’t actually have any money, surely?

  9. “P.S. He seems happy enough with the idea though of us having a sovereign wealth fund and investing it around the globe. Does this make him a nationalist?”

    Yes, and seeing as he’s already a socialist…

  10. Thought you lot would have sussed Richie by now. He just scans the papers for stuff can be manipulated to push buttons with his audience. This one’s got oil, rich oil sheiks, a Tory government, government money. What’s not to like? Story he weaves about it’s irrelevant.
    As that guy does the Murphy Richards pastiche shows, it’s easy enough to write.
    Look at it as economics pr0n for the deviant end of the market. Arnald’ll turn up soon for a representative sample. Some big tits, gaping orifices, lots of grunting & wailing. Who needs a plot line when they’re spanking the monkey?

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