Thursday, 15 October 2015

The Fiscal Charter: Damned if you support, damned if you oppose

I think John McDonnell and the Labour leadership were right to oppose George Osborne's Fiscal Charter yesterday. It is not the job of the current government to try to impose it's will on future governments. It is for future electorates to decide what kind of government they wish to install in 2020 and beyond, and to decide what type of economic policies to oppose or support.
The Fiscal Charter is clearly nothing more than a publicity stunt designed to either undermine Labour's credibility as an anti-austerity party (had they supported it) or to make them appear economically irresponsible in the eyes of the general public in the event that - as was the case - they opposed it.
Perhaps the best approach would have been a mass abstention on the part of the parliamentary Labour party. This would have avoided disunity in the party ranks while treating the Fiscal Charter with the contempt it deserves.

1 comment:

Flawed Hero said...

Good point, I wonder if it occurred to them. In any case the whole thing was complete nonsense, as you say. Th Tories can say what they like about Labour under JC, those who elected him, if they pay any attention at all, will just take it as confirmation of their position.