March 4th, 2010
|08:50 am - 1983 was a very big year|
Michael Foot of course has died, as everyone knows. He was right about many things, and he was unappreciated. Here is the 1983 Labour Party manifesto, which was soundly defeated. The left never again had a national platform.
- Establish a National Investment Bank to put new resources from private institutions and from the government - including North Sea oil revenues - on a large scale into our industrial priorities. The bank will attract and channel savings, by agreement, in a way that guarantees these savings and improves the quality of investment in the UK.
- Exercise, through the Bank of England, much closer direct control over bank lending. Agreed development plans will be concluded with the banks and other financial institutions.
- Create a public bank operating through post offices, by merging the National Girobank, National Savings Bank and the Paymaster General's Office.
- Set up a Securities Commission to regulate the institutions and markets of the City, including Lloyds, within a clear statutory framework.
- Introduce a new Pension Schemes Act to strengthen members' rights in occupational pension schemes, clarify the role of trustees, and give members a right to equal representation, through their trade unions, on controlling bodies of the schemes.
- Set up a tripartite investment monitoring agency to advise trustees and encourage improvements in investment practices and strategies.
(ETA - also read the section 'a better deal for women' - these proposals were hated)
Suggesting that banks need some sorts of control? That's just crazy talk! Bankers know what they're doing. Imagine the mess we'd be in now if governments had exercised some kind of control over the banking sector in the past decade! Thankfully we left it all to the free market, because the free market always knows best.
Another big thing for me was the regeneration of our housing stock, with low cost homes for poor people. All that was jettisoned.
Can't poor people just use their savings to buy houses like everyone else has to? And let them eat cake.
In my job I have to arrange answers for letters sent to MPs from their constituents on various subjects. I wish I could quote them on this blog. I was going to say 'you would be amazed', but the overlap with what you just said...
My youthful years of reading the Daily Mail, which my parents no longer get, thankfully, were not wasted.
And thanks for the post - it was a good reminder of why, in politics, I tend to describe myself as a left-winger than a supporter of any particular party.
You've also just illustrated perfectly with this comment, one of the points that I'm making in a report I'm writing. It's about the distinction between personal and professional life which the author, about whose book I'm writing, claims is increasingly blurred in the Web 2.0 world. My argument is that it might be in his small, academic cloister but the world is still full of people who are required to maintain that distinction. :-)
Edited for typo.
Edited at 2010-03-04 11:07 am (UTC)
|Date:||March 4th, 2010 11:14 am (UTC)|| |
The missed opportunity is the thing that makes me angriest. North Sea Oil gave the UK a chance to do something constructive and invest in the future in a really profound way, instead Thatcher cut taxes. Way to go Maggie!
Yes, you sum up my feelings exactly
We have all of these in Australia, except the National Investment Bank. State versions of it failed during the excesses of the 1980s.
My grandfather always reckoned that the banks should have been nationalised back in 1949.
A surprising amount of that manifesto, which was thought to be electoral suicide, has now been implemented, but by stealth by a more right wing labour government.