The British public backs Francois Hollande
A new poll by YouGov contains some pretty bad news for the austerity junkies.
By Mehdi Hasan Published 25 May 2012 11:36
A YouGov poll out today, and commissioned by the new trade-union-backed thinktank, Class, reveals that the British public strongly favours the anti-austerity policies championed by the new Socialist President of France, Francois Hollande, including:
- establishing a publicly-owned bank that will lend to small and medium businesses (74 per cent strongly support or tend to support)
- introducing a 75 per cent top rate of income tax for those earning over £1 million per year (56 per cent strongly support or tend to support)
- providing more financial support for young people from low income families, so they can better afford to go to college or university (73 per cent strongly support or tend to support)
- a national programme of building 500,000 extra homes a year, including 150,000 new council houses (64 per cent strongly support or tend to support)
- bringing in a new tax on financial transactions by investment banks (61 per cent strongly support or tend to support).
Do you want to know what the new "centre ground" on the economy looks like? Well, this is it.
As Unite's Steve Hart, the chair of Class, argues over at Left Foot Forward:
Except on the income tax proposal – the Tories split 42-51% on that – all these policies were backed by supporters of all parties. The proposal for a publically owned bank to lend to small and medium business had the support of 74% of those polled. Even 72% of Tory voters supported it.
He adds:
Labour’s tentative proposal for a British Investment Bank must surely now become a strong pledge.
What on earth are the two Eds waiting for?
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18 comments
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"What on earth are the two Eds waiting for?"
Yes what the UK needs is economic policy that just automatically implements whatever the polls say that day.
Why does the NS let Mehdi write about economic policy?
We are such idiots.
Francois Hollande has so far delivered nothing.
He has claimed that by borrowing more, you can end up by borrowing nothing, and we all believe him.
And the majority people agree that this would be preferable: no sh*t Sherlock.
Maybe life is easier is we all stay asleep and ignore the coffee.
so why didn't Labour do all that when it had the chance and had a majority in government?
perhaps because it would cost a lot, and have to be paid for.
money doesn't grow on trees!
time for some to get real
a national programme of building 500,000 extra stone crusher homes a year, including 150,000 new council houses
Breath of fresh air at last Francois...some balance, perhaps, to what has been, in the public eye, a pretty done Austerity deal. A case of UK TINA; head in the sand.
Establishing a Government Investment Bank is the soundest idea that has been put forward for aeons - not that it is new. South Africa in apartheid days had Development Banks to promote industry and small business in the homelands which were remarkably successful in establishing industry and providing jobs and were strongly supported by Taiwanese investors who trained a South African workforce in skills which now stand them in good stead. A Government Investment Bank would set the ground rules for the Banking Industry with which banks in the private sector would have to compete or go out of business. People forget that "the markets" which set excessive rates on countries - Greece, Spain, Ireland - struggling to service international loans are a collection of private banks bleeding countries which are in financial difficulties because of the imprudent lending of these banks in the first place. A Usury Law is also urgently needed to protect individuals from being enslaved by credit card debt : it should stipulate interest rates on overdrawn accounts no higher than those paid by banks on savings or deposit accounts and limit advances of credit to figures demonstrably capable of being repaid by the borrower's circumstances. A flexible Corporation Tax structured in inverse ratio to the number of employees would ensure that corporations create jobs rather than lay off workers - the higher the number of employees the lower the rate of corporation tax. An employee share option scheme as demonstrated by the success of The John Lewis Trust should be a Government target for all corporations. Tax Laws must be changed so that EVERY UK revenue raising activity should pay its taxes to Her Majesty's Receiver of revenue no matter what country is the shareholders' country of residence. The case of Phillip Green whose wife - a Monaco resident - is the main shareholder of profitable UK based businesses whose taxes rightly belonging to the Receiver of Revenue of this country finance Phillip's gigantic yacht in Monaco - adequately highlights how urgently tax laws need changing. The Rupert Murdoch empire - News International - despite its billions of revenue and its browbeating of our national psyche - pays minimal taxes in this country. Profits of UK based international companies earned abroad should also be repatriated to the United Kingdom where the original capital for the foreign investment was sourced rather than to the Cayman Islands. As in Australia people in the United Kingdom must be compelled to vote - how else can we regain our country and implement laws for everyone's general well being and not just for the few.
Hear hear, good common sense but unfortunately the bankers, ex-bankers and future bankers that work in Westminster refuse to jeopardise their position. I would love to hear HM Government defend their current stance on Green and his kind viz a viz the condemnation of Greek tax avoidance.
Establishing a Government Investment Bank is the soundest idea that has been put forward for aeons - not that it is new. South Africa in apartheid days had Development Banks to promote industry and small business in the homelands which were remarkably successful in establishing industry and providing jobs and were strongly supported by Taiwanese investors who trained a South African workforce in skills which now stand them in good stead. A Government Investment Bank would set the ground rules for the Banking Industry with which banks in the private sector would have to compete or go out of business. People forget that "the markets" which set excessive rates on countries - Greece, Spain, Ireland - struggling to service international loans are a collection of private banks bleeding countries which are in financial difficulties because of the imprudent lending of these banks in the first place. A Usury Law is also urgently needed to protect individuals from being enslaved by credit card debt : it should stipulate interest rates on overdrawn accounts no higher than those paid by banks on savings or deposit accounts and limit advances of credit to figures demonstrably capable of being repaid by the borrower's circumstances. A flexible Corporation Tax structured in inverse ratio to the number of employees would ensure that corporations create jobs rather than lay off workers - the higher the number of employees the lower the rate of corporation tax. An employee share option scheme as demonstrated by the success of The John Lewis Trust should be a Government target for all corporations. Tax Laws must be changed so that EVERY UK revenue raising activity should pay its taxes to Her Majesty's Receiver of revenue no matter what country is the shareholders' country of residence. The case of Phillip Green whose wife - a Monaco resident - is the main shareholder of profitable UK based businesses whose taxes rightly belonging to the Receiver of Revenue of this country finance Phillip's gigantic yacht in Monaco - adequately highlights how urgently tax laws need changing. The Rupert Murdoch empire - News International - despite its billions of revenue and its browbeating of our national psyche - pays minimal taxes in this country. Profits of UK based international companies earned abroad should also be repatriated to the United Kingdom where the original capital for the foreign investment was sourced rather than to the Cayman Islands. As in Australia people in the United Kingdom must be compelled to vote - how else can we regain our country and implement laws for everyone's general well being and not just for the few.
Establishing a Government Investment Bank is the soundest idea that has been put forward for aeons - not that it is new. South Africa in apartheid days had Development Banks to promote industry and small business in the homelands which were remarkably successful in establishing industry and providing jobs and were strongly supported by Taiwanese investors who trained a South African workforce in skills which now stand them in good stead. A Government Investment Bank would set the ground rules for the Banking Industry with which banks in the private sector would have to compete or go out of business. People forget that "the markets" which set excessive rates on countries - Greece, Spain, Ireland - struggling to service international loans are a collection of private banks bleeding countries which are in financial difficulties because of the imprudent lending of these banks in the first place. A Usury Law is also urgently needed to protect individuals from being enslaved by credit card debt : it should stipulate interest rates on overdrawn accounts no higher than those paid by banks on savings or deposit accounts and limit advances of credit to figures demonstrably capable of being repaid by the borrower's circumstances. A flexible Corporation Tax structured in inverse ratio to the number of employees would ensure that corporations create jobs rather than lay off workers - the higher the number of employees the lower the rate of corporation tax. An employee share option scheme as demonstrated by the success of The John Lewis Trust should be a Government target for all corporations. Tax Laws must be changed so that EVERY UK revenue raising activity should pay its taxes to Her Majesty's Receiver of revenue no matter what country is the shareholders' country of residence. The case of Phillip Green whose wife - a Monaco resident - is the main shareholder of profitable UK based businesses whose taxes rightly belonging to the Receiver of Revenue of this country finance Phillip's gigantic yacht in Monaco - adequately highlights how urgently tax laws need changing. The Rupert Murdoch empire - News International - despite its billions of revenue and its browbeating of our national psyche - pays minimal taxes in this country. Profits of UK based international companies earned abroad should also be repatriated to the United Kingdom where the original capital for the foreign investment was sourced rather than to the Cayman Islands. As in Australia people in the United Kingdom must be compelled to vote - how else can we regain our country and implement laws for everyone's general well being and not just for the few.
Establishing a Government Investment Bank is the soundest idea that has been put forward for aeons - not that it is new. South Africa in apartheid days had Development Banks to promote industry and small business in the homelands which were remarkably successful in establishing industry and providing jobs and were strongly supported by Taiwanese investors who trained a South African workforce in skills which now stand them in good stead. A Government Investment Bank would set the ground rules for the Banking Industry with which banks in the private sector would have to compete or go out of business. People forget that "the markets" which set excessive rates on countries - Greece, Spain, Ireland - struggling to service international loans are a collection of private banks bleeding countries which are in financial difficulties because of the imprudent lending of these banks in the first place. A Usury Law is also urgently needed to protect individuals from being enslaved by credit card debt : it should stipulate interest rates on overdrawn accounts no higher than those paid by banks on savings or deposit accounts and limit advances of credit to figures demonstrably capable of being repaid by the borrower's circumstances. A flexible Corporation Tax structured in inverse ratio to the number of employees would ensure that corporations create jobs rather than lay off workers - the higher the number of employees the lower the rate of corporation tax. An employee share option scheme as demonstrated by the success of The John Lewis Trust should be a Government target for all corporations. Tax Laws must be changed so that EVERY UK revenue raising activity should pay its taxes to Her Majesty's Receiver of revenue no matter what country is the shareholders' country of residence. The case of Phillip Green whose wife - a Monaco resident - is the main shareholder of profitable UK based businesses whose taxes rightly belonging to the Receiver of Revenue of this country finance Phillip's gigantic yacht in Monaco - adequately highlights how urgently tax laws need changing. The Rupert Murdoch empire - News International - despite its billions of revenue and its browbeating of our national psyche - pays minimal taxes in this country. Profits of UK based international companies earned abroad should also be repatriated to the United Kingdom where the original capital for the foreign investment was sourced rather than to the Cayman Islands. As in Australia people in the United Kingdom must be compelled to vote - how else can we regain our country and implement laws for everyone's general well being and not just for the few.
Establishing a Government Investment Bank is the soundest idea that has been put forward for aeons - not that it is new. South Africa in apartheid days had Development Banks to promote industry and small business in the homelands which were remarkably successful in establishing industry and providing jobs and were strongly supported by Taiwanese investors who trained a South African workforce in skills which now stand them in good stead. A Government Investment Bank would set the ground rules for the Banking Industry with which banks in the private sector would have to compete or go out of business. People forget that "the markets" which set excessive rates on countries - Greece, Spain, Ireland - struggling to service international loans are a collection of private banks bleeding countries which are in financial difficulties because of the imprudent lending of these banks in the first place. A Usury Law is also urgently needed to protect individuals from being enslaved by credit card debt : it should stipulate interest rates on overdrawn accounts no higher than those paid by banks on savings or deposit accounts and limit advances of credit to figures demonstrably capable of being repaid by the borrower's circumstances. A flexible Corporation Tax structured in inverse ratio to the number of employees would ensure that corporations create jobs rather than lay off workers - the higher the number of employees the lower the rate of corporation tax. An employee share option scheme as demonstrated by the success of The John Lewis Trust should be a Government target for all corporations. Tax Laws must be changed so that EVERY UK revenue raising activity should pay its taxes to Her Majesty's Receiver of revenue no matter what country is the shareholders' country of residence. The case of Phillip Green whose wife - a Monaco resident - is the main shareholder of profitable UK based businesses whose taxes rightly belonging to the Receiver of Revenue of this country finance Phillip's gigantic yacht in Monaco - adequately highlights how urgently tax laws need changing. The Rupert Murdoch empire - News International - despite its billions of revenue and its browbeating of our national psyche - pays minimal taxes in this country. Profits of UK based international companies earned abroad should also be repatriated to the United Kingdom where the original capital for the foreign investment was sourced rather than to the Cayman Islands. As in Australia people in the United Kingdom must be compelled to vote - how else can we regain our country and implement laws for everyone's general well being and not just for the few.
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"A new poll by YouGov contains some pretty bad news for the austerity junkies" Hasn't the governments already tried over borrowing and spending and that didn't work. How is it possible then to believe that adding even more public sector debt, most of which is printed, can fix the problem?
No, they are just spending more than planned due to their economic incompetence - more unemployment means more benefits paid and less tax. There is good government spending and poor government spending. Spending on unemployment, whilst necessary to maintain a stable society, is economically less good than, for example, investing in public services or loans to private companies, which create jobs. Maggie got away with it cos she has tax revenues from North Sea oil to pay for the unemployment she created.
Don't we technically already own several banks? But they are still doing nothing except protect their own bonuses and don't give two hoots about the man in the street? Obviously ownership and control are very different things.
Hey, I like the publicly owned bank thing. See, whilst the right always aims to provide choice but choice to feather fat cat pockets, and the left is often statist to a suffocating degree, we never get to choose the state.
More tribal, party political, jingoistic nonsense.
Try writing something for a change with a critique of the left. You could learn a lot from Peter Oborne's writing. He writes from the right, but regularly attacks it to further thinking and debate. You're just another dull, party political drone.