Staggering

It was all so long ago that an internet search finds no record that it happened but I remember it well.

During the 1980’s at the height of the Thatcherite privatisation crusade, several Tory MPs were caught making multiple applications for shares, which was illegal, because they wanted to make some money stagging the shares. That is buying them at a generous tax payer funded discount and then selling them immediately for a nice profit.

Since even with multiple applications each person could still only get relatively few shares this always struck me as stupid beyond belief. Why risk the shame and damage for a few hundred pounds? It seemed that Tory MPs just thought they had a right to break the rules and did so even when the returns were minute.

The fact is their little greedy eyes lit up at the thought of making money, any amount of money for free, a bet that could not lose.

Which brings us to the scandal surrounding betting on the date of the election.

So far only 3 members of the Tory party are under investigation, although since the party claims only “a small number” were involved it sounds like there were far more than 3. If it was just 3 then the party would have said”it was just 3 rotten apples”. Or some such.

But just look at what they have risked in order to do so much damage, paltry bets of a few pounds to make a few hundred. If you were going to risk it you might at least have tried for a few thousand pounds profit.

The fact is their little greedy eyes lit up at the thought of making money, any amount of money for free, a bet that could not lose.

It tells you all you need to know about the tory party, then and now.

Jonty’s Jottings

Economics, trade and Brexit, not necessarily in that order but the dog always comes first.

By Jonty Bloom Media