£2.7bn To Buy A By-Election
That is what New Labour has spent today on the Crewe and Nantwich by-election.
The money has gone on rectifying the complete cock-up of the 10p tax rate, in the hope that voters in Crew and Nantwich will turn out for New Labour. But this money won’t come from the governments coffers, those are empty. Just like the Labour party, which is up to its eyeballs in debt it can’t afford, the government can’t afford to give this money either, so it is going to borrow it instead, so the tax payer will have to pay it back at some point.
TANSTAAFL!*
What is more, the chancellor couldn’t even guarantee that the worst hit will be fully compensated. He is using the scattergun approach and aiming this at everyone earning under the higher tax rate, so rather than the 5.3 million being compensated fully, he is going to give 22 million people a hand out in the hope that the ones who need it get at least 50% of their money back.
Talk about being lax with the nations money, but New Labour only care about staying in power, which is why they will see £2.7 bn as a reasonable price to win a by election.
* TANSTAAFL - There Ain’t No Such Thing As A Free Lunch, the abbreviation was often used by Robert Heinlein in his science fiction novels, such as, The Moon Is A Harsh Mistress, which was the first place in which I saw it.












