Sajid Javid MP writes on 2960 reasons not to vote Labour
The Economic Secretary to the Treasury, Sajid Javid MP, wrote to people today explaining 2,960 reasons not to vote Labour (which all have the Quee's head on them.)
He writes:
"Ed Miliband has spent the last three years telling us to abandon our plans to rescue the economy. He claimed the only answer was more borrowing.
But because we took action to cut borrowing, the deficit is down by a third, private sector employment is at an all-time high and now the economy is moving out of intensive care and into recovery.
Labour’s argument has been proved wrong – and yet they’re still clinging to the same old Labour policy of more borrowing.
This year alone, they’ve announced policies that would cost £50 billion without saying how they would pay for them. That’s £2,960 more debt for every working family in this country – and it would lead to soaring mortgage rates.
While Labour remain stuck in the past, we are focussed on the future – ensuring that all hardworking people benefit from the recovery.
That means fixing the tax and benefits system to reward hard work. It means cutting income tax for 25 million people, capping benefits and helping homebuyers with our Help to Buy scheme."
Sajid Javid MP
Economic Secretary, HM Treasury
Economic Secretary, HM Treasury
Comments
Now the income tax cut is a start, slashing benefits is a must too, though its this Help to Buy Scheme" that is a problem. Basically the plan is to try to re inflate the property bubble, using tax payers currency to do so.
If they were serious about cutting tax they would cut it, if they were serious about capping benefit they would cap them below someone working full time at minimum wage, ensuring work always pays, then once you start working a min wage job, sure top them up a little, but not if you are unwilling to work.
Jim, the turnout in the PCC elections was very disappointing although it is not quite true that the successful candidate was supported by less than 5% of the electorate. Verified turnout in Cumbria was 16.38%. Richard Rhodes received 25,408 votes on the second ballot (56% of second round votes) which represents 6.5% of the electorate. It's also ten thousand votes more than Jamie Reed had (from, I accept, a smaller electorate) when he was first elected as an MP.
Any turnout below 50% is very disapointing but if you started invalidating elections on that basis the majority of local councils would have no members.
There is a difficult balance to strike on the Help to Buy scheme. If this was continued when the economy was moving at a faster rate or the housing market less depressed there would be a real danger of kicking off a house price bubble with inflationary consequences. But in the present state of the market this is unlikely and first time buyers do need help.
Thanks for your thoughts on the Lakes Alive show
I am still of the opinion that in the present depressed state of the market the balance of evidence is in favour of trying to give home buyers more help, but the danger referred to by Jim and others - must be one of the few times in your life you've agreed with Vince Cable, Jim - is real. The financial authorities must keep a careful eye on it, and be ready to wind up the scheme if the housing market shows any sign of developing an inflationary bubble.
By the way I have been meaning to thank you for the beautiful views of the Lake District from the air which you emailed to me.
Would you mind if I posted them on the blog?