Comments on: We need Parliament back to cross examine the Chancellor

By: Adam

Adam — Sat, 30 Aug 2008 22:29:35 +0000

I’m not the same person as the Adam below. He asks very pertinent questions though. I would treat Darling’s statements with a high degree of caution. I stopped believing anything Labour said way way back. I suppose that’s why they say two contradictory things, we wrongly assume one of them is true.

By: mikestallard

mikestallard — Sat, 30 Aug 2008 16:28:57 +0000

In the 60s it seemed that the British Constitution was, like the Rock of Ages, inviolable. Queen in Parliament assembled and all that.
Over the years, both parties, yes, both, have eroded the parliament and over the past, disastrous, decade they have started on Her Majesty too. I suppose that was inevitable.
Now, of course, just when the future needs discussion, it stands to reason that the Ministers have to Deal With it Themselves.
Two things I can assure you will not happen:
1. There will not be a sensible discussion of the economic future by experts in parliament. I suspect instead that there will be a knee jerk reaction to the Labour backwoodsmens’ suggestion of a windfall tax on, of all things, the power providers!
2. There will never, under New Labour, be a judicious roll-back of state expenditure.
You, John, must be fuming!

By: Blue Eyes

Blue Eyes — Sat, 30 Aug 2008 14:29:41 +0000

What’s the point in having MPs if they aren’t holding the government to account? I wrote to my MP with my concerns over inflation and national debt and the reply was along the lines of “you aren’t homeless, therefore I have no interest in helping you”. I didn’t ask for a hand-out! John you seem to be in a tiny minority of people who think that governments should be questioned at all times.

By: Adam

Adam — Sat, 30 Aug 2008 13:23:49 +0000

Is this hyperbole, or have Labour really managed to revert us to the bankrupt economy of post-war Britain in ten years flat?

Should I panic and sell my sterling while a tenner can still buy me several loaves of bread?

By: Adam

Adam — Sat, 30 Aug 2008 11:39:59 +0000

I agree with JR entirely. I would add that if the nation’s finances have suddenly entered such a vulnerable state this must put at risk the security and life of the nation. Therefore we need to have a general election so Her Majesty The Queen can choose a new set of ministers who enjoy the confidence of the people.

By: David Armstorng

David Armstorng — Sat, 30 Aug 2008 10:42:08 +0000

I agrre that Darling is out of his depth. I don’t mind telling you that I am getting very worried indeed about the damage that is going to be caused to the country during this downturn. We seem to have nothing left in reserve now. Once we start sinking perhaps this time the damage will be permament?

By: Neil Craig

Neil Craig — Sat, 30 Aug 2008 09:46:06 +0000

The cynical option is that Darling is deliberately talking up a recession so that when it is not that bad he & his party can take credit in 2 years time.

The more cynical option is that he is out of his depth while simultaneously running round in circles with his head cut off.

I incline to the latter. There is certainly no justification in terms of the world economy for expecting a world recession. OK China’s growth rate is down to 9% – that is still 9% upwards. Technology is improving faster than ever, oil prices are now falling & most other commodities have been falling in real terms for ages. If there is a recession, let alone the worst for 60 years it will be entirely because of incompetent over-government.

As you say what the Chancellor says has a real influence on what people do. If the Chancellor’s assessment is not borne out by official estimates he must go. If it is he must carry a major share of the blame & should go.

By: Acorn

Acorn — Sat, 30 Aug 2008 08:54:12 +0000

I hope you don’t expect the Chancellor to tell you the truth John. Every number he will spin will be “seasonably adjusted” that is, frigged! The discount market is expecting the Treasury to issue about Â£100 billion of IOUs in the next twelve months. The BoE will have to find a mechanism to stop the Banks and the MFIs from hoarding it rather than lending it.

Anyway, he will probably be worrying about the “technical problems” that will mysteriously appear in the Trans-Poland gas pipe – Russia to Germany – that will coincide with the EU meeting to discuss sanctions on Russia over the Georgia incident.

Remember John; In a time of deceit telling the truth is a revolutionary act [Orwell]. Watch out for Jacqui “Stasi” Smith snooping in your digital dustbin.

By: Stuart Fairney

Stuart Fairney — Sat, 30 Aug 2008 08:15:17 +0000

Darling’s statements are reckless and casual in the extreme. First we have a throw away headline about stamp duty which smashes a fragile housing market and a point blank refusal to address that in a timely manner, now these remarks which must shatter any remaining confidence. CEO’s of companies are prevented by law from making remarks of this nature, for our Chancellor to do it in a friendly magazine piece is quite appalling. What price a “Denis Healey” style, cap-in-hand trip to the IMF when the money runs out?

Can you think of a Labour government that hasn’t either eventually devalued the currency or gone bust and had to make the IMF run? Me neither.