Post by curiousliberal on Nov 9, 2019 13:52:59 GMT
One issue that I don't think's getting much of a look-in is just how much spending is being promised relative to taxation/cuts. Running a deficit that grows faster than GDP in times of economic growth is usually pretty worrying and, between Labour and the Conservatives at least, it looks like we're set for a consensus in favour of a dangerous thing. (I hope the LDs don't join this, but we'll see.)
To be clear, I'm actually in favour of more spending in a lot of areas, but parties should either be honest if they're hiding tax plans (which is what I hope is going on), or come up with proper tax plans to match their spending proposals. I sincerely hope Milne's belief in modern monetary theory isn't further worsening Corbyn's platform, and suspect Johnson's promises are a pack of lies to be swiftly abandoned in favour of vindictive cuts as soon as recession hits - which is of course exactly the time when a deficit can be a necessary evil.