Vince is about as Marxist as Adam Smith

 ‘’Vince Cable “not a Marxist”’said a BBC headline yesterday on the eve of  his speech to the Liberal Democrat conference in Liverpool.  Indeed, he is not.  Vince Cable is an economic conservative, who has long advocated free market capitalism and cutting the state.  . Cable was a prominent contributor to the LibDem “Orange Book” which argued  for market reforms in the public sector, including the NHS.  He is an enthusiastic advocate of the Chancellor, George Osborne’s deficit reduction programme

What goes up... Mobility isn't very social

 I’ve always been just a little suspicious of people who advocate social mobility as a cure for society’s ills, as the answer to  inequality.   It isn’t.    When Nick Clegg said last week that social mobility is “the badge of fairness in society” he is missing the point.  The very image of “social mobility” is one of those loaded metaphors like “housing ladder” which implies that we can can make it to the top if they have enough drive and are given the right opportunity.  This has always been a myth.  

Osborne's Bullingdon Budget

  Prepare for a hot autumn, comrades: the class war starts here.  Labour have hoist the red flag over Westminster and are preparing bonfires for the Liberal Democrat “collaborators”.  This budget, they say, was  Bullingdon Man taking his “ideological” retribution against the state using the coalition as cover.  It will hit people on low and middle incomes hardest, throw hundreds of thousands out of work, create fear and insecurity among benefits claimants and the disabled.   But the question is: was there any alternative, given Britain’s wrecked finances? Or was this, as the Chancellor put it, the “unavoidable budget”?   

  It is certainly a radical, even a revolutionary budget.  A 25% real terms cut in non-protected government departments in four years. A fiscal consolidation of nearly £120bn by 2015.   The rollback of the state implied by this Budget is simply unprecedented in modern British history.   We are talking tens of thousands of public sector jobs going, services like education, housing, transport, police and social work slashed.  Margaret Thatcher never tried anything so ambitious. George Osborne said he was seeking a deficit reduction on the ratio of 80% spending cuts to 20% tax increases.  She only managed about a fifty fifty split in her early budgets, and public spending actually went up during he 1980s. Can he be serious?