Labour's economic credibility

[Nick]

How can you predict that? I thought economic forecasts were impossible and nobody knew what the future held?  That is what Leavers say about every single economic forecast, with the exception of the EfB forecast which somehow is magically correct despite being the least accurate - and getting worse - of all the pre-ref forecasts.



Either economic forecasts cannot be accurate - in which case we can ignore the majority of forecasts that predict negative brexit effects but also cannot say that labour's policies will be bad for the economy.



Or....



We accept that some forecasts show Labours policies resulting in lower growth but also have to accept economic forecasts showing brexit as a negative.



In addition, the same argument Brexiters often fall back on -

"it's not about the economy anyway!... it's worth it for sovereignty/freedom/less foreigners etc"



must also be a valid (even if you don't agree) argument that "it's not about the economy anyway!... it's worth it for a fairer society/less inequality/socialist future" when it comes to Labour policies.

Economic forecasts are inaccurate when you have nothing to gauge it against, fortunately we have a dearth of data on how Labour run the economy, or run it into the ground.



When someone says they are going to generate £80 billion by raising Corporation tax and putting Income tax up for the rich the economic sound of mind can see that it doesn't compute. This is what the IFS is eluding to, very different from predicting an economy based on Brexit when they don't know what deals will or won't be in place.



I love your what you think a fairer society is, kick the ones that graft their taters off and give it to the WKD supping dolites.

My fair society is if you get off your arse and work, you reap the rewards and get to keep most of it, paying your way and a little bit more for those that cant. Not those that won't.



Jeremy Corbyn has a net worth of £3 million plus he has 2 properties in £1 million range so he's worth roughly £5 million. In the last 30 years he will have earned around £1.5 million from his salary. Something not quite right there is there? Looks like commy Corbyn speaks with forked tongue.



He is also due to pick up a £1.6 million pension!!

[BeElBeeBub]

If it's a blame game perhaps they will blame the 17,410,472 who voted to leave for the freedom which will eventually lead to us outstripping the rest of the EU. Time will tell.

Why is this thread called Labour's economic credibility - they have none!  :shrg:

How can you predict that? I thought economic forecasts were impossible and nobody knew what the future held?  That is what Leavers say about every single economic forecast, with the exception of the EfB forecast which somehow is magically correct despite being the least accurate - and getting worse - of all the pre-ref forecasts.



Either economic forecasts cannot be accurate - in which case we can ignore the majority of forecasts that predict negative brexit effects but also cannot say that labour's policies will be bad for the economy.



Or....



We accept that some forecasts show Labours policies resulting in lower growth but also have to accept economic forecasts showing brexit as a negative.



In addition, the same argument Brexiters often fall back on -

"it's not about the economy anyway!... it's worth it for sovereignty/freedom/less foreigners etc"



must also be a valid (even if you don't agree) argument that "it's not about the economy anyway!... it's worth it for a fairer society/less inequality/socialist future" when it comes to Labour policies.

[Barry]

It's the same tune we hear from the Conservatives every election. The hypocrisy is hard to miss since once in power they throw money away in the form of tax cuts for the already wealthy.



Brexit is the true measure of Conservative incompetence since they are leading the country towards at best a hard Brexit, or worse a no deal Brexit out of pure political expedience. Both are indisputedly bad for the country but they'll do it regardless.



No wonder their manifesto is so lame, they know their isn't going to be any money left after they've given their friends tax breaks.



Labour got the blame for the recessoon even though it was caused by external factors. How are the Conservatives going avoid the blame for something they actively chose to do? Obvious I suppose. Blame immigrants, the disabled, the unemployed and of course remainers.

If it's a blame game perhaps they will blame the 17,410,472 who voted to leave for the freedom which will eventually lead to us outstripping the rest of the EU. Time will tell.

Why is this thread called Labour's economic credibility - they have none!  :shrg:

[Ciaphas]

It's the same tune we hear from the Conservatives every election. The hypocrisy is hard to miss since once in power they throw money away in the form of tax cuts for the already wealthy.



Brexit is the true measure of Conservative incompetence since they are leading the country towards at best a hard Brexit, or worse a no deal Brexit out of pure political expedience. Both are indisputedly bad for the country but they'll do it regardless.



No wonder their manifesto is so lame, they know their isn't going to be any money left after they've given their friends tax breaks.



Labour got the blame for the recessoon even though it was caused by external factors. How are the Conservatives going avoid the blame for something they actively chose to do? Obvious I suppose. Blame immigrants, the disabled, the unemployed and of course remainers.

[BeElBeeBub]

It's irrelevant what's in Labours manifesto, not for the usual reason that applies to all parties manifestos but because Labour will get slaughtered in the GE. Roll on the 12th  

Missing the point somewhat.



How can you decry economic forecast that Brexit is bad for the economy with "you can't make predictions" and at the same time say "we predict Labour's policies will be bad for the economy"?

[GregB]

It's irrelevant what's in Labours manifesto, not for the usual reason that applies to all parties manifestos but because Labour will get slaughtered in the GE. Roll on the 12th  

[BeElBeeBub]

Now the labour manifesto is out and people have run the costings the Tory attack line is the familiar "Labours plans are bad for the economy". (https://vote.conservatives.com/news/10-ways-labour-would-wreck-our-economy">https://vote.conservatives.com/news/10- ... ur-economy">https://vote.conservatives.com/news/10-ways-labour-would-wreck-our-economy)



My query is *how* can the Tories know this?



They (and many on this forum) have just spent the last 3 years telling us that economic predictions are all bunk and there is no way anyone can use even the simplest empirical links to make inferences about the future



How come they are now using economic theories like "increase corp tax is bad for business" when they rubbished ones like "making exporting harder is bad for business"?



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