I want this opposition to do well, but their current economic strategy looks very wobbly to me.
Firstly, to oppose an increase in corporation tax at this moment is wrong. Any company which emerges from this recession making profits is in a very good position, and given the country’s needs should hardly complain at paying a little more over the short term. There are also companies which have done very well from the pandemic, supermarkets, on-line suppliers of all kinds, pharmaceuticals etc, and again they can hardly resent contributing more to help reduce the national debt burden.
Secondly, the bond idea just doesn’t make sense. The best way to get the nation’s amassed savings back into circulation and create more jobs and investment is to encourage us to spend it directly, not via a bond where government decides where to invest it. Too slow, too cumbersome. It’s also a scheme which will only appeal to the better off. Many families will emerge from this recession lucky to have fifty quid in the bank, and they are the people who need the help urgently.
Great respect for Keir Starmer, but I think he’s off-course here.