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Politics And Financial Ignorance In Penge

As the General Election looms, the main parties are out campaigning for our votes, so are the joke parties, including TUSC. No, that is not a misspelling of tusk, though TSK TSK might be a better name; the acronym stands for Trade Unionist and Socialist Coalition. Talking of misspelling, how much confidence would you have in an opponent of big “business” who couldn’t even spell the word, as on this TUSC leaflet reproduced in part here?

While we are enduring manufactured austerity – the fault of the banks – and while we need to oppose it, the solutions put forward by TUSC would only make the problem worse. The candidate for Lewisham West and Penge, Martin Powell-Davies, says if he is elected to Parliament he will stay on his teacher’s salary and donate the balance to his anti-austerity work. This is all very noble, but are MPs really all fat cats? For a teacher, Mr Powell-Davies is surprisingly ignorant of history; Members of Parliament were not paid until 1911. This meant that the House of Commons was far less representative of the common people than it is today because only the wealthy or those with sponsors could have a real say in how the country was run. Like judges, policemen and other key officials, if MPs are well rewarded they are less likely to take “backhanders” from vested interests. Yes, financial corruption still exists, but honest incentives do tend to work.


TUSC campaign flyer

TUSC concerns itself greatly with the 1% whom we are told not infrequently are battening on the rest of us. This rhetoric is very appealing to ordinary people, until they do the math. If Mr Powell-Davies becomes a head teacher, he will join the 1%. Your doctor belongs to the 1% as do many solicitors, accountants, and two income households. A shopkeeper who owns two or three outlets may belong to the top 1% in theory, as may a property developer, but these people need to generate big incomes for themselves because they have big overheads to pay, including staff, rates, and so on.

TUSC wants to end zero hour contracts and to bring in a £10 per hour minimum wage. Zero hour contracts have been rightly criticised, although they do suit some people, married women for example whose husbands are earning good money. The notion that the minimum wage helps the poor is a colossal fallacy that has been debunked time and time again. If you do not understand why, here is a short video; you will find many similar videos on YouTube. The real way to both tackle the poverty trap as well as help the low paid is by instituting basic income as proposed by the Green Party, which unfortunately also has many lunatic policies.

Not all TUSC’s policies are bad; one of its founders was the trade union official Bob Crow, who wanted to renationalise the railways, which are currently being used as a cash cow to fleece commuters and other travellers; cheaper travel would boost growth and increase wealth, but taxing the rich just because they are rich will destroy their investment capital which will lead to less not more investment.

Likewise, attacks on big business for the sake of it is not a good idea, for example it is a very big business indeed – the much maligned Google – that hosts the free blogspot used by Mr Powell-Davies.

If TUSC and its supporters want to make a real change, they should attack the cause of austerity, which is not the rich but the banks. Simply nationalising the banks is not the solution, they need to be stripped of the power to create money out of thin air, a right that belongs only to sovereign nations but has been usurped (in our case) by the Treaty of Maastricht. In order to return the power of credit creation to the Crown, we need to withdraw from the European Union; the only party that is currently advocating that, is UKIP. The message then is either vote for UKIP at the next election, or insist on a referendum after May 7 to get us out.

About the author

Alexander Baron