We need a political revolution

After months of pontificating, since leaving the Liberal Democrats, I have concluded we need a political revolution in the United Kingdom; the system is broken, corrupt and fragmented. Parliament, the only republican element of our constitution, no longer represents the people.

Private donors, corporations, lobbyists, trade unions, career politicians and others have hijacked the Commons. The monopoly of the Tories, Labour and Lib Dems ensured no real change is currently possible; sadly, the Liberal Democrats have joined the status quo and the radical element of the party is no more. Voting against equal constituencies, to stifle the Tories, is neither liberal or democratic; it allows Labour to have an automatic built in majority.

But that is the least of our worries.

Political donations and lobbying is non-existent or incredibly weak; it will not stop the special deals and passages of influence. And expenses still dominating the news. Yet, nothing changes. People have just stopped voting because they believe change is impossible.

But change is possible. We are the majority, not the 650 MP’s. Our voices are much louder and stronger, only if we reject apathy and rally for political change. A revolution is needed and needed very quickly.

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No.10 throws the MoD into confusion…..again.

So much for SDSR and balancing the budget..

Yesterday, a senior Government source said that Prime Minister David Cameron did not “resile” from comments in 2010, when he said that defence spending would rise after 2015.

Responding to a report in The Daily Telegraph, that the comment meant defence spending was protected in the next 2015/16 spending round, the Prime Minister’s spokesman insisted his comments had been misinterpreted.

The very premise of deficit reduction is not ring-fencing or promising expensive areas of expenditure.

The Prime Minister wants to have above inflation defence spending (post-2015), whilst the budget has a overall -8% deficit and national debate of £1 trillion. Yet again, the state cannot live within it means. Oh dear…

 

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Cameron expands Mali operation

The UK is to deploy about 330 military personnel to Mali and West Africa to support French forces, but have assured that none shall be participating in any combat role. Other equipment, including transport planes and drones, will be provided to the French mission.

I cannot help, but conclude this is only the beginning; it’s inevitable Britain will have to become active in combat missions – if the conflict spreads to neighbouring countries. The African Union might struggle alone, even with French leadership.

Cameron agreed to provide training and assistance to Algerian forces, too, which means the British army will be engaged in training missions in another African nation. Not just Mali.

Mission creep is a genuine concern here. Non-combat roles can easily escalate into aggression. We must tread carefully.

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And Ed wanted us to be more like America…

 

US #economy contracts for first time in 3.5 years – annual #GDP rate fell by 0.1% in Q4 of 2012, Commerce Department estimates—
BBC Breaking News (@BBCBreaking) January 30, 2013

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‘Socialist’ France has declared itself bankrupt.

A very odd statement. Not even the Coalition would go this far to justify austerity…

There is a state but it is a totally bankrupt state

…..

That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.

This is probably the last thing you say, especially when a capital flight is on-going. It is worth monitoring the French situation, mainly because the ECB and IMF will be unable to bail-out the second largest economy in the eurozone. Collapse in confidence will inevitably destroy the euro.

Be warned.

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Quote of the Day

‘Wherever there is a brutal Arab dictator in the world, he’ll have the support of the honourable gentleman’

Cameron on George Galloway.

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Should we abolish corporation tax?

This is an interesting question, proposed back in November (which I sadly missed). Adrian Pearson makes a decent and very articulate argument;

So, against this backdrop I am pondering a big question: could we abolish corporation tax in the UK?

I am thinking that tax should logically be levied on people not corporations.

Since corporations are ultimately owned by real individuals, and any profits a company makes eventually find their way into the pockets of people one way or another (as dividends, salary, benefits in kind or capital gains on liquidation or sale), why should the company pay tax too?

 

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What ever happened to ‘New Politics’?

Recall MP’s expenses and the promise of “new politics” and a system to inspire confidence in Parliament. Remember how the Coalition would become the embodiment of it? Well, three years on…

Nothing. Nothing has changed in Parliament or the function of government. Expenses are still dominating the newspapers, along with lobby scandals and abuses of power. The Opposition have no interest in bipartisan support and will try to undermine and force Ministers to resign; the Liberal Democrats have no respect for Cabinet government and Collective Responsibility and Tories fail to remember the ‘freedom’ aspect of the Coalition Agreement.

The establishment is a complete failure; more broken and unproductive than the economy.

It is a lugubrious situation, in which the people have resigned to apathy and contemptuous nonchalance. Nobody cares; and that is the main problem with our politics.

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Let’s face it. We’re fucked.

I once tweeted growth would not return to levels of 2 – 3% until 2022; it is with deep regret that I am probably right. Britain is the new Japan.

Low unemployment, low inflation, but facing an aging population (which we cannot afford to look after) and low wages. National debt is over £1 trillion and the deficit is 8%; there is literally nothing the government can do.

During the 1930s, the First Great Depression, we targeted the middle classes, home builders and manufacturers with tax cuts. Those options are no longer available to us. All savings have been allocated.

Not only are there no silver bullets, but the arsenal is now completely empty.

We’re fucked; both politically and economically. This is a forlorn read, but it is the honest truth. At some point in the future, Britain will be able to live within her means and the country will become fiscally stable. It is going to take time; probably another 9+ years.

There is no magic wand, money tree or quick solution that will solve everything over night. No choice, but to head straight into this tempest and succumb to our fate.

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The ‘Socialist Experiment’ ends in France

Paris radio station, Europe1, is reporting President Hollande is preparing to abandon plans for a 75% rate after being rejected by the constitutional court. His government do not want another embarrassment, with a revised plan, and are planning to drop the super tax rate altogether.

The country is in the midst of a capital flight. Anyone with money is fleeing.

Even more bad news for Hollande came this morning; French manufacturing PMI was 42.9 – much worse than market expectations. All signs point to France entering/in recession.

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