Keir Starmer: ‘We can’t win power by spending. We need to reform and create wealth’
Keir Starmer: ‘We can’t win power by spending. We need to reform and create wealth’
Exclusive: Labour leader urges left to ‘care more about growth’ and rules out spending ‘vast sums of money’
There‘s no end to austerity with Starmer. He rather keeps cutting public spending than taxing the rich.
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There‘s no end to austerity with Starmer. He rather keeps cutting public spending than taxing the rich.
That's a terrible misinterpretation. Nothing about what he says is wrong, the Tories have systematically destroyed industry, manufacturing and exports, tech and licensing.
Fuck, they were fine with us selling the greatest tech company the UK had in decades to foreign companies, ARM.
There have been a lot of crappy hottakes here about Starmer, worse than Reddit, but what is says is not wrong. We can't just promise more spending after the mess the Tories have left us in, there has to be a plan to improve the situation.
@frazorth @tillimarleen You are incorrect. Governments of countries with sovereign currencies literally have no limit on how much they can spend. They cannot "run out of money".
All spending choices are pure ideology meaning if he chose to, Starmer could fund anything he could think of.
He doesn't do that because he's a closed-minded tory in a red rosette.
It's really sad that you are talking deceptive nonsense with so much conviction.
Governments of countries with sovereign currencies literally have no limit on how much they can spend. They cannot “run out of money”.
This means you are printing money, which devalues your currency. This leads to inflation, and will increase the cost of goods, and in your scenario would encourage more printing further causing issues.
You need to tax the rich, we need to make all wealth even if it's overseas liable to tax, and encourage new wealth generators, through new small businesses so that the spending is not concentrated and funneled up to a single group, and fix the manufacturing situation so that exports can bring in new money.
Promising spending without a plan is what the Tories do for their buddies.
[Edit] Taxing overseas wealth is something that would help us claw back some of the offshored tax havens that the royals, Cameron and Jimmy Carr take advantage of.
@frazorth Yes taxing the rich is absolutely neccesary, but only to stop the rich spending the money. Tax is irrelevant to whether the money is there or can be spent by governments.
For example, see UK COVID spending of £372bn with no increase in tax to pay for it.
Or £4 billion+ sent to Ukraine with no questions asked.
I could go on.
To return to Starmer, he will never suggest taxing the rich because he is a tory in a red rosette.
We didn't increase tax, because that's not the Tory way.
Unless you are advocating for Tory policies?
Not increasing the taxes to pay for our commitments ends up coming out as loans, paid by gilts, which we absolutely do pay back. The Tories are relying on our credit being good, so are borrowing as much as possible, which is putting our reputation at risk. This will increase the cost of borrowing, and Starmer would be a fool to promise spending without a proper funding mechanism.
@frazorth Actually increasing taxes is very much the Tory way. All increases that have ever happened to VAT have been from tory governments.
Gilts and loans are paid back at a rate of our choosing so are no obstacle to spending money (which we can print ourselves remember) now.
I agree that Starmer is a fool however.
But does Starmer talk about taxation?