Why Theresa May is lying to you. What her spending plans reveal about her promises of change - Luke Davies.

In her party conference speech Theresa May promised to transform the Conservatives into the ‘party of the workers, the party of public servants, the party of the NHS’. She declared: ‘it’s time to remember the good that government can do’.

Journalists on both right and left have been queuing up to announce a new era in British politics.

Allister Heath has written in The Telegraph of May’s ‘repudiation of the Thatcher-Reagan economic world-view’ and her apparent recognition that government is ‘the solution, not the problem’.

Meanwhile, John Gray in the New Statesman has claimed that May ‘has broken with the neoliberal model that has ruled British politics since the 1980s’.

So where’s the evidence for all this? Gray finds it in May’s tax reform pledges, her plans for a national industrial strategy and her promise to reassert the role of the state as the final guarantor of social cohesion.

But let’s be clear. Cameron also put tax reform at the top of his agenda; he also developed industrial strategies to promote growth; and he was also committed to bolstering the Conservatives “compassionate” credentials — for instance with Starter Homes.

So none of these policy pledges are new.

It might be that May differs from her predecessors because unlike Cameron she actually intends to deliver on these promises.

But I’m sceptical. For one simple reason: whilst promising to increase the role of the state, May is quietly insisting that ‘the government continues with its intention to reduce public spending and cut the budget deficit’. READ MORE

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Comment by Daniel Buckley on October 10, 2016 at 14:51

 The last Prime Minister who understood Economics and the monetary system was Harold Wilson. Since then we have the unfortunate experience to be governed by economic illiterates. Politicians in the main are not fit to make economic decisions and are easily maneouvered by the Financial sector into make rash decisions for short term political gain.

Maggie Thatcher began the process with the destruction of our Industry and privatisation of our Utilities, continuing on to Tony Blair, who was a Tory in disguise.

Austerity has never worked to grow an economy ,neither has QE. To grow an economy and create jobs and wealth requires direct Govt Fiscal intervention in Industry and infrastructure.

Private banking are not risk takers and prefer the short term gains from Finance,Insurance and Property'.

Only Govt can re-balance this out of kilter economy.Labours solution of £500 billion in Infrastructure and Industry is the way forward.

People may ask ,where the money comes from for this investment. The Treasury can create as much money as it wishes .As long as this money is invested in job and wealth creating Productive Industry ,it will return the investment and cancel the money in time from  taxes on individuals and Corporations. This investment is debt free and can be considered a tool to kick start Industry.

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