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The public are unaware of the “horrible” economic damage that is “coming around the corner” due to the coronavirus outbreak, a former chancellor has said, warning that the Government’s furlough scheme has lulled workers into a “false sense of security.”

Amid growing expectations that some companies may not reopen before Christmas, Lord Lamont said on Tuesday that he feared some sectors of the economy “will disappear” after the lockdown has been lifted.

Millions of people have been furloughed. The scheme means that 80% of workers’ wages, up to £2,500 a month, get paid by the government (taxpayers). A lot of people of people think they’ve been on a sabbatical. In truth they’ve lost their jobs but don’t know it yet. The UK desperately needs actual austerity, beginning asap. Welfare and the NHS gobble up huge chunks of our wealth. They need to be slashed.

We also need a bonfire of economic laws and regulations. The economy must be allowed to work as efficiently as possible because only the economy – the myriads interactions of investors, entrepreneurs, firms and individuals – can dig us out of this gargantuan hole.

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20 thoughts on “LAMONT IS RIGHT

  1. “We also need a bonfire of economic laws and regulations”
    balderdash its the opposite
    good economic laws and regulation make for strong healthy economies

  2. The UK desperately needs actual austerity,

    You mean like you need a hole in the head? Thankfully Johnson specifically ruled out “the A word” again today. Pro-cyclical policies have been proved wrong so many times. Like austerity cuts in the middle of a depression (UK 1931 and 2011-2018) or tax cuts for the rich when the economy is booming (Trump 2018).

  3. Peter –

    What?

    The UK was out of the Great Depression a decade before the US, in great part because we didn’t repeat the disastrous policies of FDR. Really, what is this Keynesian “pro-cyclical” nonsense?

    It’s even misplaced. His fans always forget that he proposed low spending during the boom years. We haven’t had low spending. Taxation and spending have gone up every year for as long as anyone can remember.

    An actual Keynesian cycle would be the left’s worst nightmare.

  4. His fans always forget that he proposed low spending during the boom years.

    Yes Pete. And higher taxes, so that they could be reduced during a recession, but you Rightworlders always leave that bit out.

    The austerity imposed by the Tories from 2010-2018 caused great misery and lost lives among the poorest. It slashed police numbers and contributed to rising crime. It also left the NHS totally unprepared for the (long-predicted) pandemic which arrived this year, because spending increases were limited to 1% per annum when closer to 4% was needed just to keep up with rising costs for drugs and equipment and an ageing population. So there were no spare ICU beds and no spare ventilators and no stocks of what we soon learned to call PPE. The NHS survived the pandemic by virtually closing down and ejecting 15,000 elderly patients to care homes, causing mass deaths in those under-funded hell-holes.

    But aside from the economics, the politics have been totally changed by the 2019 December election. The Tories moved left on economics in order to win it, and if they were to impose austerity again they would be toast in the next election. And Johnson knows that, even if some of his more dimwitted colleagues don’t (hello to the Thatcherite Three – Pritti, Liz, Dom Rabb).

  5. Peter –

    How does this rubbish persist?

    The austerity imposed by the Tories from 2010-2018 …

    Spending increased in every such year, in every government department, as the national debt increased, so impoverishing future tax victims.

    What austerity are you talking about?! This is a flat out left wing lie. “Austerity” has been nothing more than left wing propaganda for a decade because it cannot construct a coherent argument for itself.

  6. So there were no spare ICU beds and no spare ventilators and no stocks of what we soon learned to call PPE. The NHS survived the pandemic by virtually closing down and ejecting 15,000 elderly patients to care homes, causing mass deaths in those under-funded hell-holes.

    Every word of this is the responsibility of the NHS. The NHS has had total operational independence since the Health and Social Care Act 2012.

  7. Did spending increase for all departments in inflation adjusted per capita terms?

    Don’t be making the mistake that others make about using gross numbers that mean little.

  8. The austerity imposed by the Tories from 2010-2018 …

    If the NHS are “suffering” such austerity, how come they still advertise for “new and exciting” non-job positions like “diversity & inclusion officers” with salaries which resemble medium sized lottery wins?

    That is some austerity, where do we sign up?

  9. UK government spending on health and social care, 2010 – 2020, in real terms.

    Yes, just as I posted at 9.57pm. About 1% per annum in real terms when it needed to be closer to 4% per annum in real terms, as it had been from 2000-2010.

  10. Every word of this is the responsibility of the NHS. The NHS has had total operational independence since the Health and Social Care Act 2012.

    LOL. So it raises its own money as well does it? It was allowed 1% per annum in real terms under the Tories. The Tories collected the taxes and allocated them, not the NHS. The NHS told them every year that it wasn’t enough, but they knew that anyway. Like they gave a shit.

  11. Yes Peter, just as people like me have been saying for years; “austerity” to the left now means “more spending, even more than Labour promised to spend”.

    The left is full of shit. All it has is crooked language and propaganda because it is empty of meaning, policies and purpose. The world has passed it by and lies are all it has now.

  12. Pete

    Did the population increase?

    Is the average person older?

    Were there any advancement in meds or machines that justified spending more for?

  13. And of course the Tories were explicitly warned in 2017 about the serious risk of a UK pandemic and the total lack of preparation in terms of necessary plans and kit. And what did they do? Jack shit is what they did:

    “The government is under pressure to reveal how it responded to four key recommendations made three years ago after a major simulation exercise found the NHS would not cope in the face of a flu pandemic. The recommendations are revealed in the June 2017 minutes of the New and Emerging Respiratory Virus Threats Advisory Group – Nervtag – which advises the government on pandemics. They were made after Exercise Cygnus, a three-day simulation involving national, regional and local government bodies, conducted in October 2016. Little is known about the exercise – or the confidential recommendations that followed from it – other than it confirmed alarming gaps in the country’s preparedness.

    Phillip Lee, the former Liberal Democrat MP who was a Conservative minister at the time of Cygnus, said the exercise had a very sobering impact on government. “We knew we were not prepared for a pandemic from the Cygnus report,” Lee said. “It was a mistake not to publish it at the time. If we were not going to act on the lessons, then what was the point of the exercise?”

    One former government source familiar with the exercise told the Daily Telegraph that officials were reluctant to discuss much about what Cygnus had revealed as it was “terrifying”.”

    https://www.theguardian.com/world/2020/apr/19/government-under-fire-failing-pandemic-recommendations

  14. The left is full of shit. All it has is crooked language and propaganda because it is empty of meaning, policies and purpose. The world has passed it by and lies are all it has now.

    Replace “The left” with The Right” and it reads even truer. Apart from a hard Brexit the Tories have ****-all else to offer. One of the reasons they were caught by surprise in February is that they spent the weeks after Christmas politically masturbating over Brexit day on 31 January.

    Remember Boris babbling about “Bung a bob for a Big Ben Brexit bong”? Great days.

  15. And of course the Tories were explicitly warned in 2017 about the serious risk of a UK pandemic and the total lack of preparation in terms of necessary plans and kit. And what did they do? Jack shit is what they did:

    As is proper. Public Health England is both authorised and ordered by law to do this very job. It is free to do so because it has total operational autonomy from government. It has been more than sufficiently funded to do so and all associated failings belong to PHE.

    Peter –

    Post here – please post here – links to a Labour Party manifesto which cited pandemic preparation. Please expose Tory failings by posting a link to that Labour Party manifesto. It must exist, given the blame that commies ascribe to the Tories, so please put it in this thread.

  16. As is proper. Public Health England is both authorised and ordered by law to do this very job. It is free to do so because it has total operational autonomy from government. It has been more than sufficiently funded to do so and all associated failings belong to PHE.

    Yawn. Its budget and political priorities are set by THE GOVERNMENT. It was up to the Health Secretary, if not the Prime Minister to respond adequately to this very serious warning about public safety. Blaming bureaucrats just won’t cut it, except in the Tory newspapers. And in any case “Public Health England” was a Tory creation in 2012, as part of their disastrous “reforms” of the NHS aimed at further privatisation by the back door. They own this disaster 100%.

  17. Post here – please post here – links to a Labour Party manifesto which cited pandemic preparation.

    It would have been difficult for any opposition party to refer to a report which was kept secret and gathering dust on Tory government shelves. If it had been produced in any other year than 2017 it just might have got some government attention. But all the Tories cared about in 2017, 2018, 2019 and 2020 was Brexit, Brexit, Brexit, Brexit. And preferably the hardest possible version. Which they will totally achieve and totally own on 31 December 2020.

  18. Why don’t you just print more pounds? The US has printed trillions more dollars.

  19. When Labour left office in 2010 the UK Budget was at £704bn. The budget only exceeded that, in real terms, in 2018 in Philip Hammond’s “end of austerity” budget. So between 2010 and 2017 the budget was lower in real terms than it would have been in an inflation adjusted budget. It actually dropped below inflation adjustment (against the 2010 Labour budget) again in 2019 (though there was no budget that year).

    By my calculation, using yearly inflation figures against that £704bn, the UK would have spent £7,814bn. They actually spent £7,542bn, a different of £273bn (nearly a quarter of a trillion pounds). That equates to a real time cut of about 3.5%. As has been pointed out that has occured at a time when there has been real terms growth to certain budgets, for example Healthcare and Defence, meaning that cut has been imposed in greater terms on other budgets, particularly policing, justice and social care.

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