Propaganda V facts
Sorry to be late today but I have been travelling, that did however give me the chance to listen to the World at One on BBC Radio 4 yesterday.
They had on a women who was not challenged when she described how angry she was at the reversal of the cut to the top rate of tax by saying “ There is proven statistical evidence that cutting tax brings in more money.” Or words to that effect.
The interesting thing is not that she believes this canard, nor that she thinks there is evidence to support it, there isn’t.
The interesting thing is she and a lot of other people have been fed this line for decades, often by people who know better and the really worrying thing is that the cabinet is now split between those who spout this rubbish and those who are actually using it as a basis for policy.
It is easy to shout about the Laffer curve and making work pay, but the realists in the party have woken up to find the stupid idealists have taken over, weren’t joking, campaigning or whipping up an audience of red trousered gammons, they really believe this stuff.
The markets however don’t, nor do investors, lenders, international economic organisations, economists, experts, the Treasury, the OBR, the Bank of England or many Tory MPs or cabinet members.
This conflict is unsolvable. Fact and fiction do not mix. The idiots who knew better and pushed this tosh are now fighting to save their party from their own propaganda.
They are, I think, too late.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.