If Jeremy Corbyn were to become prime minister he would sack the Bank of England’s governor for any opposition to his proposals to fund major infrastructure projects, according to his economics guru.
Richard Murphy, the architect of “Corbynomics” and the controversial “people’s quantitative easing (QE)” plan, which would result in the bank printing cash to pay for public works, issued his warning yesterday.
“Bank of England governors are responsible to democratically elected politicians. If we have governors who think they are over and above the rule of democratically elected politicians, then I’m afraid to say, yes they should be on the next plane,” he said.
Speaking on BBC Radio 4’s Today programme, he added: “There is no such thing as Bank of England independence, there never has been; it’s a fiasco put together, a facade created to appease people to put forward a presentation of something that doesn’t exist.”
Getting like Cartman, isn’t it? You will respect my authority!
But, you know, whatever, Ritchie’s got a book out on 26 th Sept and all publicity is good publicity, right?
Funny, this is one of the first things in the DM ‘1000 days of Corbyn’ fantasy, (which everyone is saying is completely over the top).
Credit where credit is due; Ritchie is more sane than Ann ‘Mad Woman on Newsnight’ Pettifor.
What is the tax gap.again folks? Can it be collected? Should a central bank be independent?
Perhaps Richard thought it was the instruction manual..:)
Now you guys have talked it up, I’ll have to catch up with ‘Mad Woman’ later!
I gave up after about a minute of trying to keep track of what Pettifor was saying and just let it wash over me. It was stream of consciousness lunacy and I was laughing at the end.
As Ironman says, she was contradicting herself in the same sentence.
Best bit was when she tried to explain how Corbyn wasn’t planning to renationalise industries but was instead planning to renationalise industries. At that point Evan Davies looked to have moved on to the next piece.
When the Safty Elephant is the one dispensing sound economic advice then you know things have passed the idiot event horizon.
It was a misspelling – he is in fact an economics gnu.
That story passed through my hands last night. One wonders how people can make such lame, idiotic pronouncements and hope to be taken seriously. Genuine jaw-dropping surprise. No acknowledgement of the small matter of Corbyn’s surviving for five years as a leader and then persuading the country of his virtues. One concludes that the economics gnu is nothing more than an attention-seeking organ soloist, as Tim has been saying for some time.
@Ironmen. Saw Ann Pettifor on Newsnight too. Oh Lordy.
“Economics gnu”. YES!!
From this day forward he must be known by this.
The great thing about JC and RM is that they both get riled when opposed, and are likely to come up with the sort of outbursts above about the Governor of the BoE above. Thats fine when you are a rebel backbencher who no-one takes seriously, and a no-mark blogger from Norfolk. But when you are one step away from being in charge of things, even if thats unlikely, it rather matters. Interviewers will soon cotton to the fact they just have to get either worked up and the gaffes will flow. Its going to be interesting to say the least!
Spot on – this vicious thug and the outwardly temperate Corbyn are both possessed of preternaturally thin skin and unable to either accept that their interviewer might have a point or dismantle a counter-argument beyond ad hominem attacks and insults. It will be fascinating to see how they cope with enhanced media scrutiny, the former outside of the comfort blanket of the TRUK ‘Comments policy’ – if he thinks the embarrassment he suffered on the Maugham blog was bad, wait for the next couple of years – It will be the real life Roderick Spode show….
Murphy at it again in the Guardian following the CBI criticising his policies:
I love the line:
‘If we are building houses, we stop building houses’
What happened to those jobs for life, Murphy?
“If we are building houses, we stop building houses…and we start planting rice in the Killing Fields”
“we start planting rice in the Killing Fields”
And by ‘we’ I mean ‘you’ of course, I’m the important person with all the guns……..