I caught the back end of the mediafest that was G20 on Sky yesterday, despite the telephone numbers (always be assured of a high bullshit quotient when Ministers talk about billions and trillions) that are required to be repaid by your grandchildren and possibly Great Grandchildren in lower living standards and higher taxes, this is not going to make much difference to the UK economy.
Basically over fifty two percent of the population are dependent on their income on the state, we produce very little that the world wants to buy.The major financial centre that is the City of London, has proved yet again that it has the nous of a kid in a sweet shop, that gorges its self until it is sick.
The Private sector is taking all the pain, The Public sector continues to grow. Neither Labour/Cons/Social Democrats will even attempt to challenge the status quo.
High personal and corporate taxation will drive good business away, the Banks that ran squealing to the taxpayer, have not learned anything and will continue on their arrogant way -stealing and lying, as they are untouchable.
The way forward has always been clear- break up the megabanks into regional banks with strong links to industry, massive tax reductions on PAYE to release the taxpayers own money back to them. This will entail massive job losses in the public sector quangos and benefits culture.
Whitehall needs to be broken up and power devolved back to the county level, the concentration of power in one incompetent man like Brown, has been the road to disaster that we are still treading.
G20 was a gathering of flim flam men, the exagerated body language of relaxed, smiley people was a confidence trick of massive proportions, they sought to convey the impression of an elite in control, relaxed with the situation now. All of these ‘negotiations’ have been going on for months- the communique written even before the chosen on landed at Stansted.
Big International ‘Solutions’ are not going to make the slightest impact on the structural damage done to the UK, different solutions at regional and local level are.
The mediafest is not going to make much impact on the jobless figures, rictus gurning with Obama may improve slighty Brown’s electoral prospects, however once this ‘solution’ fails. Its back to Austerity Britain with all that entails.