The Chancellor has no answers [Op-Ed]

Labour's John McDonnell to quit front line politics after bruising election  result - LBC

Britain’s self appointed maverick has entered Number 11 Downing Street, bunking up with his Labour counterpart. His first speech outside Number 11 Downing Street said that he will be happy to answer any questions asked of him publicly. Despite this,  the Chancellor has no real answers as evidenced by his recent piece in the press. His commentary amounted to little more than a “No u” and he couldn’t even stick to the facts inventing his own versions of the facts on the political history of defence spending. When questioned on this, he told the British people they should cope with his lies. This government is going down a dangerous path already.

> We start with decrying “endless spending packages”. This would seem to imply unending spending is a problem that needs to be curbed.

> Then we see them decry that “at a time of escalating tensions and uncertainty they are proposing to slash funding to our armed forces.”

Left with no defence on the fiscal cost of their policies, the Chancellor resorts to attacking others because he has no answers himself. I can hardly say I’m surprised as he had no defence for his election manifesto which have seen the national debt soar.Defence spending is set to rise to 2.3% in 2024 and this rise in Defence spending is fully costed, its contained in a budget under which debt to GDP will fall. 

So unlike Mr Chompsky’s claims the Shadow Chancellor is not shaking any magic money tree, the Defence spending rises are fully costed and funded in the last budget which provides a fiscal framework for debt to GDP fall. 

>They never released a plan with their target saying why it was needed, what had changed from the 2.0% target, they just wanted to call the Tories soft on defence.

First of all this isn’t true as MGuido has pointed out. The 2.5% pledge was put forward by the Conservative minority government at the time. By the way they did publish a threat assessment and where this money would go at the time. I happened to not agree with it which is why my party put forward a smaller, more targeted defence package in our manifesto. Current Defence spending levels are justified by the recent procurement document published by the Phoenix government which clearly the Chancellor has not read. The Official Opposition  will work to protect this funding for the procurement and to ensure our military is not cut.

The Chancellor then attacks the LPUK for spending more than the NATO target on Defence. However he doesn’t mention he is spending nearly three times the aid target set by the United Nations. The government’s wants to spend your money in other countries, probably to advance their aims of world socialism and because they think they can match China’s Belt and Road initiative with a couple billion quid. I’ve never seen a set of people so clueless. Under this government your taxes will go up, and that money won’t be the spent in the UK economy to boost growth or your jobs, it will be going abroad so we can mythical soft power. Let us be under no illusion, you will be poorer with this clueless Chancellor. 

It’s interesting that large recipients of US foreign aid such as Egypt and Pakistan actually voted against US policy interests at the UN whilst their votes were more closely correlated with that of Cuba who doesn’t receive any US aid at all. 

I will also note here the increase in defence spending in the last budget is 0.3% of GDP whereas the coalition agreement contains international development spending at 2% a GDP, a rise of 1.3% of GDP. This is uncosted spending and the government hasn’t the slightest clue how it will pay for their increases in the structural deficit. If they did, I’m sure we’d have heard it now instead of the deflection from the Chancellor.

> Considering what LPUK has considered to be over regulation in the past, from basic housing standards

The Chancellor doesn’t even have a basic grasp of what housing standards are, his rants about toilets were thoroughly debunked by anyone who had actually read the regulations regarding toilets. The regulations he speaks of were regulations that were never affected by LPUK legislation. We shouldn’t be listening to him. The Blurple government helped to pave the way for the abolition of the green belt and to secure planning reform to get house prices down. However, don’t expect the left to be happy for you, they despise home ownership and independence from the state. 

> to saying cigarettes cause cancer, one has to wonder what they mean here. 

Once again no understanding of the policy even after it was explained a surgeon general warning would remain. You can begin to see this press piece was together hastily with no regard for facts or the truth in a weak attack on the newly-promoted Shadow Chancellor. 

We can then get some vague nonsense resorting “You mad bro” when it comes to the budget process. It seems this will be the government’s approach to any and all criticism going forward. It appears he has a short memory when solidarity piled the attacks on the previous budget and the Phoenix government.

It was also amusing to see the Chancellor complaining about the coalition agreement and his manifesto being attacked. It seems like the guy is quaking in his boots, now that he has to actually deliver instead of shout from the sidelines.

It must be a shock horror to the Chancellor as a political party attacks uncosted funding and economic policies it was elected to oppose and champions the ones in its manifesto. It would be convenient for the Chancellor if the opposition stopped holding him and his fiscal bomb to account but be rest assured we will be here to scrutinise and add the sums up for the Chancellor if he will not do so for himself. 

This article written by  the Right Honourable Sir /u/Friedmanite19 OM KCMG KBE CT LVO PC MP, The Leader of Her Majesty’s Most Loyal Opposition

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