Polio. Yes, polio, due to the dumping of raw sewage into the water supply. Privatisation is a failure of this magnitude. Continued attachment to it is one of the two great, obstinate refusals to move beyond the discredited economic thinking of a bygone age of such doctrinaire administration by all three parties of central government.
The other is the persistence of "independent" central banking. Mirroring Labour, Liberal Democrat and Scottish Nationalist devotion to catastrophic Conservative privatisation, this is Conservative, Liberal Democrat and Scottish Nationalist devotion to a catastrophic Labour measure, and one that never had an electoral mandate.
The Bank of England, the European Central Bank and the Federal Reserve have all delivered rampant inflation, and, as is the wont of central bankers, they are all welcoming and engineering recession as the supposed solution to it. Here in Britain, it is well past time for monetary policy to be taken back under the control of a Chancellor of the Exchequer and of a First Lord of the Treasury who were drawn from the House of Commons, and thus directly accountable to it.
Labour's acceptance of privatisation is often remarked on but people ignore the fact that Labour made the BoE independent yet the Tories defend it.
ReplyDeleteNot for much longer, I suspect.
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