The Tories’ 1% insurance cut ramp

Would you buy a second-hand insurance cut from the Tories?   The fact that this con is the focus of the Tory assault in week 1 speaks volumes.

To suggest, as they do, that it can be funded by £7bn ‘efficiency savings’ is for the birds, coming on top of the £11bn efficiency savings already pencilled in by the Government (which, frankly, is already stretching it).

Even leaving that aside, the Tories quoted in aid Peter Gershon as their efficiency adviser who has done similar exercises before.    But Gershon’s work was recently cited by the National Audit Office as a typical fiddle – only  a quarter of his claimed savings were genuine.   So would you buy a used efficiency scheme off him either?

The there’s the businessmen lining up to offer plaudits to the Tory proposal, hypocritically saying they’re concerned because it will hit jobs.   What they’re really worried about of course is that it will hit their profits.

But it’s more than protecting their profits from a 1% insurance increase that they’re worried about.    What they’ve really got their sights set on of course, these fair-weather friends of New Labour, is the profits jackpot if the Tories win – cutting wages back even further as a proportion of the national cake in order to bloat profits further still.

Bully for Vince Cable too for saying how dare these multi-millionaire businessmen who pay themselves 100 times what their average employees get dictate to us how to run the economy when they have recently been paying themselves such exorbitant pay-offs (£60 million in the case of Bob Diamond of Barclays, one of the architects of the financial meltdown)?

And why anyway are the Tories fastening on the 1% insurance cut when they are ignoring the far, far bigger issues of radical banking reform to stop another financial collapse, making the banks lend to businesses and homeowners rather than consolidating their balance sheets to feather their own nest, dealing with inequality which has now post-Thatcher reached grotesquely unjust proportions, and building houses for the 1.8 million households on Council waiting lists?   We know the answer.    They have no intention whatever of tackling the real ills in Britain today because they strongly support things as they are.

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