The Last Word Before the General Election
From The Times, Leading Article, March 30, 2010
Shell Shock; George Osborne’s plans for NICs are welcome but leave him with a problem
Regardless of which party; no one seems to place any emphasis upon the largest Elephant in the room, the need to replace the public economy, (where jobs are created by spending tax and borrowed money), with a more prosperous private economy, (where jobs are created by using the savings of the people invested as new equity capital). Whoever wins, they will all have to replace public employment with private jobs. For example; every Quango has to be replaced with equivalent private employment; a new, well capitalised, private company; yet no one wants to explain how that will occur.
In one sense, I can well understand their reluctance to open into this part of the debate; they are all forced to accept that under existing plans, grossly excessive government borrowing is going to continue for many years and they therefore must take all of the savings, not only of this nation, but as we can also see, the savings of many other nations, including the Chinese people, to pay for their present financial misadventures. But that does not provide an answer to the question of where we find the British savings to invest into new private employment. New jobs that are both owned and created by the people using their savings.
On the same theme, it took a long time for the penny to drop as to why we were so keen, as a nation, to encourage immigration; it was because we are short of employees earning taxation to pay for the government jobs. But by adding to the numbers of tax paying employees, (not adding to the number of jobs), we could brush the elephant under the carpet; but only for a short period. That policy has now led to the need for even more private job creation in the longer term. Surely, without a well thought out process, using savings invested as new equity capital to address the need for new private sector job creation; all of their existing proposals are doomed to fail? Please note: While these are my comments, they include material taken from
The Times web site which relates to Copyright material owned by Times Newspapers
as set out in their standard Terms and ConditionsChris Coles wrote: