Posted on | June 23, 2010 | 3 Comments
Posted originally on Twitter, then on Bright Green Scotland by Adam Ramsay
I just tweeted an A-Z of why I oppose public spending cuts. Here it is.
a) the biggest waste in our economy is unemployment not spending
b) we’ve lower debt:GDP than most EU/G8 nations
c) the money is owed to us
d) the payoff on public services’s > our loan interest
e) Italy’s credit rating is far below ours but they only pay slightly more interest
f) where else will bond markets lend?
g) how can we have export led growth as the EU collapses
h) why is growth meant to be led by the banks?
i) raising the personal allowance gives more to the rich than the poor
j) VAT is the most regressive tax
k) what happened to green investment?
l) WTF is this I hear about first children only?
m) scrapping child trust funds while promising cuts to inheritance tax is fair?
n) cutting jobs hits the poor first (are you listening @guardian?)
o) we still remember you cut uni places – crushing a generation’s hopes
p) universities have the biggest jobs multiplier of anything, so cutting their funding is the thing most likely to cause a double dip
q) Tories have always opposed proper funding for public services
r) the long term economic costs of the human strife of austerity are huge
r) the deficit has already naturally dropped by more than Osborne said he wanted it to this year, & will half by 2015
s) taxes on the top take fewer jobs away
t) it took decades to build the public services he wants to ruin
u) the economists against this tend to be those who predicted this mess
v) what’s the point of a triple A rating if you can’t borrow in a 100 year recession?
w) our loans are very long term
x) we have big assets
y) the richest 1000 people have seen their wealth increase by 30% in a year – half the value of the deficit
z) Osborne is trying to save the economy by destroying the economy. That’s as crazy as it sounds. That is all