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Well, yes, but…..

And there is in all this morning’s data a note for Rachel Reeves: the employment market is not looking at all robust. The number of people at work fell between July and August and the overall rise in the last year was small. Big ticket investment that create few jobs are going to do nothing about that. It’s small, local businesses that create jobs, and they don’t seem to be on Labour’s agenda. A cut in borrowing costs is what they need.

This is from the same bloke who insists that bank lending is near entirely for house purchases. So how do interest rates affect small business?

More accurately – of course – it is regulation that lands heavily on the shoulders of small business. But this is also the bloke who says:

To be precise, tearing up regulations is invariably bad for people and the environment.

6 thoughts on “Well, yes, but…..”

  1. To my mind this is even more deranged Tim but I will fisk the original post later on:

    But that is not what is being said. Instead what is actually being said is that there remains a right wing agenda in politics and there is also a wrong way of doing things, which is when the state does them. That is the actual message they are trying to impart.

    It is very hard not to have a deep, almost visceral, loathing of those people in what still claims to be Labour who are creating these lines. They are destroying that Party from within. They are seeking to deny this country the option of having a left-wing government ever again. In the process, they are dedicated to the idea that profit made without responsibility (because what else do their lines about cutting red tape mean?) is all that matters.

    I totally reject these values. I do not just do so for the ethical reasons, although I have always done that. I do so because forty or more years of evidence shows how profoundly harmful these attitudes are to the wellbeing of the vast majority of people in this country, and beyond.

    There is class warfare going on in this country now, and it is Labour waging it on the people of the UK.

    To call this Government ‘Far Right’ or imply that it is even remotely right wing is a level of delusion that really ought to call for the reopening of asylums. Also 34 years of prior evidence shows that Hard Left politics were utterly ruinous for the vast majority of people.

  2. It’s small, local businesses that create jobs, and they don’t seem to be on Labour’s agenda. A cut in borrowing costs is what they need.
    Really? All the small businesses I’ve known have tried very hard not to be in hock to the banks. Another word for debt is gearing. Which is risk. All right if you’re successful. But you don’t have to be very unsuccessful to be put out of business entirely.

  3. It’s even more surreal because he’s complaining that the ‘boost’ to wages provided by the NHS settlement is running out of steam. Of course in MMT world Reeves can (and should) simply print more money than she is already doing.

    It was obvious that this was what was happening many months ago – obvious, that is, to everyone but the Bank of England, which kept declaring itself worried about the rise in wages – as if restoring the value of the wages for working people was something they would really rather not have happened. As a result, they wholly unnecessarily kept interest rates high, based solely on these short-term adjustments to wage rates going on. But now they’re not.

    The Bank of England, unlike this moron recognises that increases in pay unmatched in productivity – and bear in mind productivity in the NHS is near negative in many cases – are simply inflationary. Something that should be blindingly obvious to an economics GCSE candidate let alone someone proclaiming himself ‘the top 50 most influential economics blogger’ for the longest time ever.

    So what excuse will they have for keeping interest rates high now?

    And there is in all this morning’s data a note for Rachel Reeves: the employment market is not looking at all robust. The number of people at work fell between July and August and the overall rise in the last year was small. Big ticket investment that create few jobs are going to do nothing about that. It’s small, local businesses that create jobs, and they don’t seem to be on Labour’s agenda. A cut in borrowing costs is what they need.

    In fairness the FSB would probably call for a rate cut as well but a massive reduction in Red Tape would lead to champagne all round – the ‘worker’s rights’ bills being planned could be the death knell for thousands of companies. Nary a peep from this pompous cretin about that…

  4. Just how the fvcking fvck does this malign cretin think that increases in CGT and employer NICs and reduction in pension tax reliefs will increase those employments that just might increase growth?

    VP is right, he needs his arms bound up in a white jacket, ideally a frontal lobotomy and a diet of porridge only.

  5. I blame Tim Berners-Lee. The internet has allowed all sorts of deranged morons a voice to promulgate their mad nonsense. Before they would have been restrained by Basildon Bond and green ink and thus their rantings would have been ignored.

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