Osborne Wows

45% Rate is the First Hike of Income Tax Since 1974 - Guardian
Raise Tax Thresholds to Help the Poor - Tom Clougherty
Public Sector Fuelled Jobs "Boom" - FT
America's Biggest Bank, Citi, is Part Nationalised - Reuters
Brown is Blasting Out a False Message - Fraser Nelson

MONDAY, NOVEMBER 24, 2008

Osborne Wows

ConservativeHome calls it an "outstanding performance by George Osborne", Guido has just got off the phone with Tom Clougherty, policy director at the free market think-tank the Adam Smith Institute, he described it as "the speech of his life", Matthew Elliot at the Taxpayer's Alliance has just crackberried over "he passed the test with flying colours. There is still a question mark over providing a coherent alternative plan, but this is slowly taking shape, and we'll no doubt see more details in the coming weeks." Even the insouciant worldly, non-partisan cynic Sir Michael White says he "did well enough from the sound of it", which must mean that Darling was in difficulty. 

Guido's co-conspirators were impressed in our live poll during the exchange - and they have been pretty disparaging of Osborne over the last few months.

Some of the co-conspirators comments give a flavour:

• "Osborne was brilliant. Wiped the f*****g floor with that lying twat Darling. Brown kept smirking but looked very uncomfortable. The chickens are coming home to roost."
• "thought Osborne did very well, thought he was going to mess it up. Labour front bench look flustered.."

Derek Draper joined the Live Blog, as did 1181 others with him providing fodder for a couple of thousand comments. Very sporting of Derek to provide us with some sport. Will we see you for PMQs Derek?

PBR Live Blog Here

+++ Derek Draper Will Be Here for the PBR Live Blog +++

Just got a text from the Derek asking if he'll be welcome, on the live blog, have assured him you'll give him a warm welcome. Go ahead Dolly, rapidly rebut away. This could be more of a laugh than even Gary Elsby....

Boris is Right, Tories Wrong. London Should Be a Shining City

Before the Mayoral elections Guido posted the article below, predictably it got much abuse. Boris is now advocating an "earned amnesty". It is the right thing to do. Regularising people and expanding the tax base by bringing them in from the black economy (we'll probably need to replace the wealthy foreigners fleeing the tax hikes). Boris has been attacked over his plan by Phil Woolas and Melanie Philips - a good sign.

Anyone who believes in free markets and free trade has to believe as a corollary in the free movement of people. Guido is the son of immigrants who came from Ireland and India to London in the 1950s and 1960s for economic and social reasons. They came, primarily, to better themselves. Now having lived and worked in some of the world's greatest cities Guido still believes that London is the best of them all and is grateful that the city took in his parents.

Sure the public transport system sucks, it does in Tokyo and New York as well. Culturally New York is very self-centred and less internationalist, Tokyo is a bit of a mono-culture that just about tolerates foreigners. London is much more cosmopolitan than even New York with better French food than Paris, more bankers than Frankfurt and better nightlife than Berlin.

Many people have come here without the right paperwork, they have come here to work and better themselves. They are not the problem and should be allowed to stay and given if necessary an amnesty to make them legally resident. They enrich us all. It is the people who come here to abuse the welfare state and commit crimes that are the problem.

Cameron disavows the policy and ConservativeHomies are up in arms about Boris supporting an amnesty for illegal immigrants. They should remember that one of their heroes, Ronald Reagan, supported and implemented an amnesty. London should be a beacon to those who want to be free to prosper for themselves and their families. Disqualifying newcomers from abusing the welfare state and deporting convicted foreign criminals might reduce the opposition to immigrants. Ronald Reagan did something like that when he had an amnesty for immigrants in 1986, because to him, the ultimate conservative optimist, immigration was a vital part of his vision of his country as "a shining city upon a Hill".

Boris is an optimist in the Reagan mould who would like London to be a shining city for those seeking freedom and prosperity. An amnesty might not be a popular stance to take, illegal immigrants don't have any votes, but it is the right stance.

Reposted from April, 2008.

Gordonomics : Higher Taxes, Nationalisations, Property Price Collapse, Printing Money, More Government Borrowing, Economic Bust

Guido is not a fanatical gold bug, but in times of crisis gold is the timeless refuge. This is the gold/£ price chart for this year, showing gold has proven to be a sound investment. As Gordon takes the Mugabe option this has only one way to go. Without the restraining hand of Tony Blair socialism is back from the dead cheered on by Labour's zombies. Gordon's latest plan to bleed high earners means that the best will be driven from British shores just as they were in the seventies.

Ireland, which is taking the austerity route out of the crisis, slashing government spending, is attracting an entirely private sector solution to recapitalising banks. Property prices are becoming reasonable, tax rates are lower and big British run businesses are relocating to Ireland.

Ireland will probably be out of recession long before an economy crippled by Brown starts to recover - whoever wins the next election.

UPDATE : Ireland's new finance bill is changing the law to entice non-doms to move from London to Ireland.