Monday 2 August 2010

Forget debits and credits - blame Thatcher

Brian Monteith has this article in Think Scotland and also in today's Scotsman.

Here's an extract:

When Thatcher came to power in 1979 some 67 per cent of Scottish homes were rented, nearly all of them from the state, while 33 per cent of Scottish homes were owned. By 1997 the figures were reversed and the rented sector had a new and growing private sector from buy-to-let owners.

The change was not just about creating the property owning democracy as a buttress against socialism, it was about enriching peoples' lives by giving them an asset against which they could borrow, an asset that could act as a pension fund and provide an inheritance that could help families accumulate and retain their wealth.

The only thing I'd disagree with is that the houses were "given".

Blaming everything on "Thatcher" is a copout used by almost all Scottish politicians. It's a great pity that the SNP government seems to be quite unconcerned with financial reality. Ring fencing NHS expenditure is madness and bodes ill should Ms Sturgeon becomes the next SNP leader. But it's not just her, is it? Is there no one in the SNP who has an ounce of business or financial sense? Surely John Swinney cares about how he'll be seen by history.

1 comment:

David Farrer said...

Comments made on previous template:

David Farrer
Sorry for late reply - my access to the commenting system has been troublesome.  
You are of course correct about the RBS. See my blog today about Alistair Darling and the banks.  
Holyrood is indeed a disappointment, especially on financial matters. It's all very worrying at the moment. The rest of the western world is in a mess too, not that that's much comfort.

18 August 2010, 20:43:36 GMT+01:00
– Like – Reply

The Hypochondriack
"Is there no one in the SNP who has an ounce of business or financial sense?"  
Well, to be fair you could have said the same about the board of the Royal Bank of Scotland in 2008, but prior to that everyone thought they were great.  My point is that even people you think have financial sense often don't, so it is not the quality you might think it is.  
That said, I have been very unimpressed by how Holyrood has reacted to the current financial problems, I have always known it was an impotent parliament, it was afterall designed to be, but the extent to which MSPs are living in LaLa land is very worrying.   
No doubt the SNP will resort to their tired old 'its all London's fault' despite the two biggest banks that got bailed out being Edinburgh based, and let us be honest, Alex Salmond never said Gordon Brown was spending too much money.  Labour and the Lib Dems will try to blame the SNP for everything that is not pleasant.  The problem is that the parliament has no revenue raising responsibilities, and if it were given them it would be at the worst possible time.  Can't see any reason for optimism right now. 

4 August 2010, 19:33:17 GMT+01:00