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Apr 29 2007

The Wall Street Journal asks ” What is the Blair legacy?”

Posted at 6:38 pm

A call from a journalist three thousand miles away asked me to sum up the end of the Blair era. He told me he was thinking of saying "Economy OK, a pity about Iraq".

I suggested he thought again about the first part of that testimonial. We have lived through 10 years of good growth, low inflation, low interest rates, rising house prices and cheap Indian and Chinese goods in all the main world economies.

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As?? a result of the Blair/Brown interventions the Uk now has higher inflation than our major competitors, has lost one million manufacturing jobs, still has 5.3 million people of working age without a job on benefit, and has higher interest rates on average than the USA, Japan and Euroland.

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Blair/Brown inherited a strong economy and have only gradually damaged it by higher taxes and unproductive public spending (ID cards/Dome/NHS IT/etc). They inherited a great pension system which they helped wreck with their pensions stealth tax and regulatory system. They argued themselves to a standstill over education and health reform, first destroying the Conservative changes in favour of more choice, and then at the end Blair tried to restore some of those ideas against the wishes of most in his party.

I think Labour will?? miss Tony ??Blair. Whilst he has disappointed many by his war and his failure to deliver proper public service reform at home, he is a much better public performer than Gordon ??Brown and has been able to fool some of the people some of the time that did not traditionally vote Labour. Three election victories in a row are in part down to him – not to Gordon. Gordon Brown’s electoral tests begin on May 3rd, when judging by the polls he will take Labour to new lows.

One response so far

One Response to “The Wall Street Journal asks ” What is the Blair legacy?””

  1. Morganon 29 Apr 2007 at 8:12 pm

    Mr Redwood, here’s Blair’s “legacy”:

    I met a traveller from an antique land
    Who said: “Two vast and trunkless legs of stone
    Stand in the desert. Near them on the sand,
    Half sunk, a shattered visage lies, whose frown
    And wrinkled lip and sneer of cold command
    Tell that its sculptor well those passions read
    Which yet survive, stamped on these lifeless things,
    The hand that mocked them and the heart that fed.
    And on the pedestal these words appear:
    `My name is Ozymandias, King of Kings:
    Look on my works, ye mighty, and despair!’
    Nothing beside remains. Round the decay
    Of that colossal wreck, boundless and bare,
    The lone and level sands stretch far away.

    Percy Bysshe Shelley, Ozymandias.

    I was for many years a member of the Labour Party. Was.