In a few minutes time Boris will address the conference. Sadly I can't be in the hall to see his speech but I am told that he is going to commit to no council tax rise and also assert that "you cannot regulate your way out of a recession". I'll post more about his speech later, I hope, but I'm glad he he said this. Of course financial markets need to be regulated, but what we need - and what this government has failed to provide - is effective regulation, rather than more regulation.
Overregulation is in Labour's DNA and the Consertatives must be very careful not to fall into line with every new regulatory initiative which the Treasury or Labour Party HQ come up with. Many of them will be launched to garner positive press headlines rather than anything else, and the Tories must be prepared to speak out against them if necessary. Economic activity and growth are not spurred on by extra regulation. Quite the contrary.
First get out of the EU, otherwise you will not be able to regulate without their consent. It would also stop all the other rubbish they load us with.
ReplyDeleteNice to see Boris with a nice, new tie on.
ReplyDeleteHe looked jolly nice I should have thought!
1, 2, 4?
ReplyDeleteElection winning policy - all new laws must be balanced by the removal of one - any - previous law. That would clear out all the duff old ones, force them to consolidate others, and reveal how much is EU and there fore outside their control thanks to Blair. Election winner.
ReplyDeleteEconomic activity and growth are not spurred on by extra regulation. Quite the contrary.
ReplyDeleteThe lack of proper regulation of markets can easily halt all activity due to the erection of barriers by participants and their active wish to subvert competition These activities are like weeds . The market is a garden not a wilderness and its activities emerge from a civil society and a level of trust. Also the embedding of past experience from bank failures to the South Sea bubble . It must evolve
Conservatives should emphasise that neither they nor Margaret Thatcher ever really thought that any book least of all one by Hayek had all the answers .The Conservative Party is not , at its root , a Party of the market , it is a Party of Conservatism which is suspicious , at all times of dogma amd ambivalent about the potential of destruction in any powerful force removed from human scale . International capitalism is exactly this sort of phenomenon and has failed precisely by being insufficiently Conservative . The effort now must be to resists the left’s wish to throw the baby out with the bath water however and take considered steps to encode this experience into developing the market framework here . Hubristic notions of world solutions are to be approached with a degree of scepticism.
The Markets institutions are what should be defended and strengthened and with unerring accuracy Cameron has found the Conservative fault ,line . Brown new fangled regulatory system failed .A development of the powers of the bank of England was required and he undermined it just as he undermined the treasury
"Conservatives should emphasise that neither they nor Margaret Thatcher ever really thought that any book least of all one by Hayek had all the answers ."
ReplyDeleteI suspect they haven't read Hayek's economic works from the 1930s which explained why booms and busts occurred.
This crisis is not a market failure but a government failure. Interest rates have been kept artificially low by a central bank given special powers by, yep, the government. Without the central bank or the government interfering with interest rates and the money supply we wouldn't have had these problems.
Mr Johnson was superb. Funny but he was cutting in his description of every Tory administration having to wipe out the excesses of failed labour administrations!!!
ReplyDeleteI do hope Mr Cameron will promise that he will have an Independent Review of ALL government spending over the past eight years. THEN publish the results for the people to see just how much of our taxes have been wasted by BROWN and his incompetents.
Also promising that any alleged criminal activity exposed will be referred to the Police for them to investigate.
I also loved Mr Johnson's quite brilliant logic about the Mayor being the one to hire and fire the Metropolitan Police Commissioner.
Bye Bye Blair!!!!
Blair gone - wonderful idea Boris - not before time too.
ReplyDeleteAlso why replace any regulation - why not just get rid of it. We are like a ship encrusted with barnacles - Labour barnacles - no wonder we can't go anywhere fast"
September 28, 2008 6:10 PM
ReplyDeleteAnonymous
Surley the present govt. would have some form of immunity from prosecution, wouldn't they?
Although it would be nice to see them tried for their criminal mismanagement bordering on treason over the past 11 years.
The AM show
I saw Dave on TV this morning being intervied by Andrew Marr at the Mailbox.
Marr really struggled to understand the difference between "lots of" and "effective" in terms of banking regulation.
Can't the BBC find more intelligent jounalists with the huge amount of public money at their disposal?
Now 1, 2, 3 - that's better!
ReplyDeleteBoris for Leader of the Conservative Party and next Prime Minister!
ReplyDeleteBoris is a useless twat. Next Prime Minister? What after he loses the Mayoral election in 2012?
ReplyDeleteyes make sure no over regulation
ReplyDeleteI still want my City bonus
and so do my mates
whose side are you on
The City or the neo socialists who want to regulate
its as simple as that
no capitalist crisis just human error
ReplyDeleteThey said that about Stalin
This isn't the first time I've read a call for Boris to become party leader and PM.
ReplyDeleteI don't think he would be right for that particular job, and is far better where he is now. Pegs and holes...
Come 2016 (on the assumption he serves a second and final term as London Mayor) I feel sure that a rôle very well suited to his particular talents and style will offer itself.
He is far too good in his own rights to be shoehorned into a conventional job like party leader.