The Anonymous Widower

Labour’s Spending Plans

In my varied life, I have had a lot of experience of the mechanics of borrowing money and the costs of running financial companies.

Consider.

  • One of my best friends was the Business Banking Director of a well-known Clearing Bank
  • Another good friend was the Chief Management Accountant of the same Bank.
  • I learned a lot of the mechanics of leasing and managing assets and obtaining the finance to do so from a Company Accountant.
  • I owned a Local Finance Company.
  • I was an early investor in Peer-to-Peer Lending.
  • I have extensively modelled banking and finance systems, including the aforesaid Clearing Bank.

After reading summaries of the billions that Labour propose to spend and borrow, I fear that their plans have one serious hole.

What makes them think, that any reputable Bank, Pension Fund or Financial Institution, thinks they will lend them what they need?

Blair’s Government was able to borrow because, it was offering profitable deals like PFI, which I doubt the Corbynistas would.

Corbyn, McDonnell et al are in Cloud Cuckoo Land.

May 17, 2017 - Posted by | Finance, World | , ,

2 Comments »

  1. Jeremy Corbyn has three sons, when they were younger he asked them all what they wanted for Christmas.

    The first son said “Daddy, I would like a train set.” so Jeremy went out and bought all the UK railways and put it on his credit card.

    The second son said “Daddy, I would like a paddling pool.”, so Jeremy went out and bought all the water companies and put it on his credit card.

    The third son said “Daddy I would like a cowboy outfit.”, so Jeremy turned the Labour Party into one…

    Comment by Mark Clayton | May 17, 2017 | Reply

  2. He is not alone in being in cloud cuckoo land. I think most of them are there. According to Theresa May, Neil and I have a personal responsibility to vote for her strong and stable government; she is so concerned to tell us this that she wrote us a “personal letter”. Telling us why we must vote for her. We are in a Labour constituency, with an MP who happens to be a good constituency MP, and has done some very good cross party work within Parliament on the issue of safeguarding children, following the Rochdale grooming scandal. Conservative don’t have a hope here – if Labour don’t get in then it will be Lib Dem.

    I wonder how much that cost and who paid!

    Comment by nosnikrapzil | May 17, 2017 | Reply


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