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