Conservatives’ vote losers

There are two issues about which the public feel very strongly – Britain’s debt and a referendum on the Lisbon Treaty/EU.

Inheritance tax -v- Britain’s borrowing:

By 2013, Britain’s debt* will be just under £3 trillion, given McMental‘s spending commitments which include current borrowing, PFI (off-balance sheet), public sector pensions and bank bailouts. So far. This could rise if Brown decides to purchase public affection with more debt or if further bank/business bailouts are ‘needed’.

The markets rightly view this vast debt with alarm, as it saddles the taxpayer with the equivalent of a second home mortgage. There is only so much the average household can afford to pay in extra tax. To service this debt, the government will therefore have to borrow. That’s right – borrow more money to pay the interest on what it has already borrowed. When it becomes clear that nobody is prepared to purchase our debt, the cost of borrowing will rise, so increasing our debt cost in a vicious upward spiral.

This economics from the mad house is where Brown feels right at home.

The public is deeply uneasy about our prospects – especially those in fear of redundancy and on low incomes because they don’t have sufficient disposable income to build up a safety net should the financial floor crumble beneath their feet.

They worry about the basic services and do not want to see their taxes spent on people who are comfortably off – the category into which they would put people faced with inheritance taxes.

Cameron should promise to reduce inheritance tax only when the threat of job redundancies and falling living standards has slowed or reversed. It’s no good promising to fund inheritance tax decreases with efficiency savings, because those savings would be better spent paying back our debt and improving our credit rating.


The Tories have been wriggling and writhing on this for years. We are almost at crunch point at which the wretched treaty is in danger of being ratified by all member states. When that occurs, the vast majority of people will want a referendum on it, or on our membership of the EU.

Our sovereignty is at stake here and along with it, our freedoms. The ruling classes have to realise that life for them as the ‘elites’ is vastly different to life for the rest of us.

If Cameron doesn’t tackle this decisively and openly, he will find his stock falling to the point where he is in danger of winning the general election with an awkwardly small majority.

He can’t say he hasn’t been warned.

* See Taxpayers’ Alliance.


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