Wednesday, 24 August 2011

The hard facts

It's time to act people. One thing is apparent. Government spending is not going to decrease, the deficit is not going to be reduced and the state is going to plunder your labour, your assets and your wealth to survive.

Today sees a devastating report on the State of the UK published by Dr Tim Morgan, head of research at Tullet Prebon entitled project Armageddon – the final report. (PDF link)

The project was established to analyse whether any political party had a hope in hell of saving the UK economy. The conclusion, should you wish to wake up and smell the coffee, is that the endless binge credit, public sector pension commitments, PFI contracts and private debt have killed us. Dead.

Quelle surprise, but what does this ACTUALLY mean for a UK citizen? It’s all very well recognising that Brown ruined the UK, we know that all Labour governments drive the economy into the ground and then abandon ship, wait for the hull to be repaired and then proceed to drive it onto the rocks again at the first opportunity, but what will anyone else do?

Simply, the Government is betting on growth. Growth will pay the mounting debt interest, growth will increase the tax revenues required, growth will pay off the deficit. Sure, profligate Socialist spending will also have to stop, and we have seen some attempts to reel in the waste, but we are too far gone, too far down the road of the massive State with millions of employees to simply turn off the fountains of easy money that Brown found by borrowing.

Ok, so the Government wants growth, is betting on growth but has no idea where the growth will come from. Just “growth”. No reforms, no slashing of the bureaucracy of running a business, no dismantling of the ridiculous legislation that hinders business. Just low interest rates to keep homeowners (already artificially inflated) happy and consumers (already up to their eyes in cheap credit) spending in the vain hope that whilst the Government realises it cannot spend its way out of debt, the public and business somehow can. Remarkable.

I’ll be blunt. The Government wants YOU to borrow more money so it won’t have to. It wants you to buy shiny things and be happy, whilst it continues to rake in the revenues from taxes. Keep buying houses at inflated prices, keep buying iPads, whilst the Government will cut spending and all will be well.

It won’t. Not one single Politician has the guts to turn round and say, in a firm, steady voice:

See everything you have? It isn’t yours. The Government and yourselves have awarded us the finest things money can buy. Sparkling schools, four lane motorways, foreign wars. Our unemployed drive cars, we house and feed people who will never work, nor have the intention of doing so. We send money to nations who waste every penny we send. You buy televisions and Jacuzzis for the garden on credit because you believe you have failed if you cannot have what others have. You judge people by the car they drive and the clothes they wear. Both you and we the Government have completely lost the plot. We gave the dealers of the heroin we are both hopelessly addicted to, the banks yet more money so they could supply us with yet more heroin.

Put down your credit cards and the Government will do the same. We will go back to a time when we lived within our means. You will drive one car per family because we will take away tax credits. You will have one television in your house because we will remove child benefit. We will ask you to help educate your children because our system of educating of them is not working and is bankrupting the very children we are here to educate.

In short, we are skint. Get used to it. No more £50 a month on Sky TV, no holidays three times a year, and no artificial interest rates that allow you to live in houses you cannot afford. In return, we will slash the cost of Government and allow you to keep the money in your pockets. Those who work hard and save, will have their money. Those who don’t will no longer have the “right” to demand others pay their bills. They can expect the poverty that not working brings with it, not to be subsidised by those who do.

You will be free to set up businesses, to exploit markets and to earn money. If your labour is only worth £4 an hour, you will be able to sell your labour for £4 an hour and we, the Government will get out of your way. We will end entitlement by removing the faux insurance schemes that we call “welfare” but are nothing more than bribes for votes. You will learn to rely on yourselves, not on others. Our only role will be to stand out of your way, remove the hurdles of the State and not endanger your wealth with endless interference. We will not punish those who achieve because others have not.

It will not be comfortable, but if you want comfort, it is your job to earn it, not ours to distribute your money to those who WE feel should have it. We will not judge those who are rich, we will not judge those who are poor. It is not our task. All we will provide is secure borders and the rule of law. You are now free to be free. You are free to grow because the state has been constrained. We will shrink as you grow. Find your fertile soil and plant the seeds of enterprise.

We wish you well,

your Government.

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