I made some comments on a Jeremy Warner piece in the Daily Telegraph yesterday (link below). In one of the replies a correspondent (andp) asked me if I wanted to see the Labour Party in government after the next General Election. This is what I said to andp (edited slightly for this post) …
I think that the next British government will be a Labour government. I can’t say that I want that, but I suspect that the BBC and the British people do. So much of our society now hangs off the state that it’s difficult to see how or why a majority of turkeys would vote for Christmas, when push comes to shove.
Despite the Institute of Economic Affairs (IEA) declaring that 70% of its poll respondents wanted to see the size of the state cut to 30% of GDP (it’s now around 50%), few people would vote for that in a General Election once the consequences were spelled out on the hustings, most likely by the Labour Party and the Liberal Democrats [if you’re interested click on the second link below which takes you to a July 2011 report issued by the IEA entitled “Sharper Axes, Lower Taxes”].
Our political class is hamstrung by half-a-century of facilitating the development of a soft-socialist state; the development of a client state which dispenses faux-wealth and benefits to tens of millions of people courtesy of the Money Tree. The way we live now is unsustainable; the national debt is growing and will continue to grow.
However, like I said, the political class is by and large powerless to turnaround our economy unless they take truly draconian steps to change things; it’s really no different to saving a company which is going down the pan. There’s no easy way to do it, but if you don’t do it – you go down the pan.
I don’t envy the politicians at all on this, but it’s primarily a mess of their own making. They want power; they’ve always wanted power. For decades they’ve been buying votes by promising the earth to the electorate, without the wherewithal to keep the promise going indefinitely. It just so happens that we’re now living at that moment in time when a confluence of economic and political circumstances is making it nigh-impossible for our unsustainable societal model to continue. So it will stop.
A Labour Party in government in 2015 would simply accelerate our societal train in to the buffers. Then the fireworks will start.
PS The first comment against Jeremy Warner’s article is also mine, as it happens (if you set the comments to ‘Best Rating’).
‘It’s plain what George Osborne needs to do …’: http://tinyurl.com/cln7a3r
‘Sharper Axes, Lower Taxes’: http://tinyurl.com/67shcnc