| Streeting talking about tough choices. 07:44 - Jul 2 with 2611 views | BanksterDebtSlave |
Well here's an easy one for Labour. How about adopting Reform's policy of not using tax payers money to pay billions of pounds in interest on uninvested money tree (QE) cash that they lodge with the BoE that we pay every year. A chance to reduce trickle up economics. [Post edited 2 Jul 2024 7:49]
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| Streeting talking about tough choices. on 08:02 - Jul 2 with 2516 views | ElephantintheRoom |
I see you believe in fantasy. |  |
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| Streeting talking about tough choices. on 08:10 - Jul 2 with 2471 views | BanksterDebtSlave |
| Streeting talking about tough choices. on 08:02 - Jul 2 by ElephantintheRoom |
I see you believe in fantasy. |
Which part? That it happens or that Labour might adopt it? | |
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| Streeting talking about tough choices. on 08:49 - Jul 2 with 2293 views | DJR |
This is a policy which has been suggested before by the New Economics Foundation and Charlie Bean and Sir Paul Tucker, both former deputy Governors of the Bank of England.
It was also proposed by Chris Giles in an article on 6 June, and it is his proposal which Reform appears to have adopted, although the savings are not as big as they say in their manifesto.
https://www.ft.com/content/2fbe1549-33d4-472a-9cc0-f7791459d3a9?accessToken=zwAG
Here's a paragraph from the article.
"Instead, it [the BofE] could require banks to hold a fixed amount of money without interest, paying 5.25 per cent only on a small part of the reserves. Such tiering is used in a modest form by the European Central Bank, in a more substantial form in many emerging economies and was admitted to the BoE’s toolkit when it was thinking about setting a negative interest rate earlier this decade. It carries no threat to independent monetary policy and would limit the fiscal consequences of monetary policy decisions, arguably enhancing independence.
As regards the Reform manifesto proposal, this is what the IFS says about it.
"There is a respectable argument for changing the extent to which the Bank of England pays interest to commercial banks, and indeed some other central banks don’t pay interest on all the reserves they hold. But whether a good idea or not, it would raise a lot less than £35 billion per year."
Finally, the BofE are not all-knowing and we must have been getting something wrong when it comes to QE given it appears to have cost British taxpayers at least twice as much as equivalents in the US, Europe and other advanced economies. But Reeves being a BofE insider appears unlikely ever to challenge its thinking or approach.
https://www.ft.com/content/0582ad32-6617-4d76-abae-e682561f0ed5 [Post edited 2 Jul 2024 9:40]
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| Streeting talking about tough choices. on 09:07 - Jul 2 with 2204 views | BanksterDebtSlave |
That would be establishment politician talk for upsetting the status quo/ rich people and is why the country will continue to move towards the populist Right. | |
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| Streeting talking about tough choices. on 09:12 - Jul 2 with 2154 views | baxterbasics |
Guess you'll just have to vote for Reform then, right? |  |
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| Streeting talking about tough choices. on 09:23 - Jul 2 with 2108 views | BanksterDebtSlave |
| Streeting talking about tough choices. on 09:12 - Jul 2 by baxterbasics |
Guess you'll just have to vote for Reform then, right? |
I won't be but lots will and their presence on the ballot will be leading to a higher turnout than I originally thought. There will be surprises on Thursday/Friday. | |
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| Streeting talking about tough choices. on 09:29 - Jul 2 with 2079 views | BlueBadger |
| Streeting talking about tough choices. on 09:12 - Jul 2 by baxterbasics |
Guess you'll just have to vote for Reform then, right? |
Wouldn’t be the first time Banksy has voted for something Chairman Nige is Keen on.. [Post edited 2 Jul 2024 17:37]
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| Streeting talking about tough choices. on 10:25 - Jul 2 with 1972 views | MattinLondon |
| Streeting talking about tough choices. on 09:23 - Jul 2 by BanksterDebtSlave |
I won't be but lots will and their presence on the ballot will be leading to a higher turnout than I originally thought. There will be surprises on Thursday/Friday. |
So if it’s a few percent more will that mean that which party wins will have your consent?
Unfortunately I think that hate preacher Farage and his band of merry racists will do a lot better than what is predicted on Thursday. |  | | |
| Streeting talking about tough choices. on 10:38 - Jul 2 with 1921 views | baxterbasics |
| Streeting talking about tough choices. on 10:25 - Jul 2 by MattinLondon |
So if it’s a few percent more will that mean that which party wins will have your consent?
Unfortunately I think that hate preacher Farage and his band of merry racists will do a lot better than what is predicted on Thursday. |
In terms of vote share, possibly.
In terms of seats I think they will be lucky to get three.
Main effect will be compounding the misery for the Conservatives. | |
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| Streeting talking about tough choices. on 10:44 - Jul 2 with 1870 views | BlueBadger |
| Streeting talking about tough choices. on 09:07 - Jul 2 by BanksterDebtSlave |
That would be establishment politician talk for upsetting the status quo/ rich people and is why the country will continue to move towards the populist Right. |
….by not doing something advocated by the populist right. | |
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| Streeting talking about tough choices. on 11:01 - Jul 2 with 1794 views | DJR |
| Streeting talking about tough choices. on 10:44 - Jul 2 by BlueBadger |
….by not doing something advocated by the populist right. |
I am not myself qualified to judge whether the policy is a good one, but the New Economics Foundation, Charles Bean, Chris Giles and Sir Paul Tucker are not right wing populists.
As regards Streeting himself, he has today been talking about the plan for opticians to refer patients direct to the private sector for cataract surgery, and in this connection I think it worth reposting something I posted several months ago.
"Private Eye touches on Wes Streeting's proposals for opticians to refer patients for cataract surgery at private operators. Apparently, some are owned by chains like Specsavers and the article points out concerns about there being pecuniary interests to refer patients which may not be in patients' best interests. In addition, the private operators of such services pay to doctors a going rate much higher than the NHS, with concerns expressed by the Royal College of Ophthalmologists that this means doctors are leaving the NHS for a much cushier and more well-paid life, when there is a shortage of 290-360 consultants in the NHS, as I found out with my mother who had problems with her eyes. The article also points out that, surprise, surprise, it is not the private sector which trains ophthalmologists." | | | |
| Streeting talking about tough choices. on 12:10 - Jul 2 with 1706 views | BanksterDebtSlave |
| Streeting talking about tough choices. on 10:44 - Jul 2 by BlueBadger |
….by not doing something advocated by the populist right. |
Do you think it's a good idea? | |
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| Streeting talking about tough choices. on 12:41 - Jul 2 with 1603 views | Plums |
| Streeting talking about tough choices. on 10:25 - Jul 2 by MattinLondon |
So if it’s a few percent more will that mean that which party wins will have your consent?
Unfortunately I think that hate preacher Farage and his band of merry racists will do a lot better than what is predicted on Thursday. |
If it's raining, they'll stay in Wetherspoons |  |
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| Streeting talking about tough choices. on 08:32 - Jul 10 with 972 views | DJR |
| Streeting talking about tough choices. on 11:01 - Jul 2 by DJR |
I am not myself qualified to judge whether the policy is a good one, but the New Economics Foundation, Charles Bean, Chris Giles and Sir Paul Tucker are not right wing populists.
As regards Streeting himself, he has today been talking about the plan for opticians to refer patients direct to the private sector for cataract surgery, and in this connection I think it worth reposting something I posted several months ago.
"Private Eye touches on Wes Streeting's proposals for opticians to refer patients for cataract surgery at private operators. Apparently, some are owned by chains like Specsavers and the article points out concerns about there being pecuniary interests to refer patients which may not be in patients' best interests. In addition, the private operators of such services pay to doctors a going rate much higher than the NHS, with concerns expressed by the Royal College of Ophthalmologists that this means doctors are leaving the NHS for a much cushier and more well-paid life, when there is a shortage of 290-360 consultants in the NHS, as I found out with my mother who had problems with her eyes. The article also points out that, surprise, surprise, it is not the private sector which trains ophthalmologists." |
There's something in today's Guardian about the effect of private sector involvement on NHS ophthalmology.
https://www.theguardian.com/society/article/2024/jul/10/eye-doctors-say-private- | | | |
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