Murmur in Manchester Cathedral: Corbyn counters Conservative Party Conference

I couldn’t possibly comment

Manchester Cathedral was only too happy to facilitate the march of the people against austerity. Indeed, the Dean, the Rev’d Rogers Govender, launched the rally

Source: Murmur in Manchester Cathedral: Corbyn counters Conservative Party Conference

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One thought on “Murmur in Manchester Cathedral: Corbyn counters Conservative Party Conference

  1. Garry

    I’m not an economist so obviously cannot comment on what will actually work best for the nation. The church no doubt hires alot of economists, or at least I would hope it does, what with having investments and assets to the tune of coming on £6billion.

    Am I surprised by this? No. The church has often had a strange relationship with the left. Quick to jump on issues where ‘poor’ can be used in the title, but at the same time fast at being right wing on all sorts of ‘traditionalist’ issues.

    I say I don’t know what will work best for the economy as it isn’t at all clear what Corbyn’s real plan is, or whether it would work any better than the recession we have just been through. Just printing loads more money and sticking it in a government directed account whereby Corbyn can fund what he personally likes would no doubt increase infrastructure spending and boost growth, but it is still not clear if that is the right move or whether deficit reduction is the wiser course. However, the failure of Corbynomics some more from his maths, if not his ideology. He claims £93 billion could be saved from ‘cutting corporate subsidy’ and another £120 billion from tax avoidance. I have yet to hear anyone independent of Corbyn and his campaign say that £120 billion is a possible figure. As for the £93 billion that apparently comes from a paper that classifies state spending on education and health as sops to corporations. Not to mention just the teeniest little chance that cutting state subsidies for corporations (otherwise known as having various different tax rates depending on circumstance) might just slightly affect their own growth and productivity. Other parts of his assumptions are also quite dubious (it is difficult to say as apparently the paper from which he takes his £120 billion figure didn’t actually detail how to get to £120 billion). For example, cash in hand is seen as ‘tax avoidance’, but it difficult to imagine Corbyn having a personal army of people checking every conversation and transaction to see if we are paying each other for services performed.

    And is his plan for wealth really just to print money? People’s QE…. I wish I could do that. Hell, if it was that easy every government would be doing it with abandon. In reality it is not that easy and it would have consequences.

    The question for the anti-austerity crowds is whether those consequences would ultimately further hurt the poor down the road. Looking around the world I think the answer to that is quite possibly yes.

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