Dear Lord Pearson
Economic mismanagement of the UK by both Conservative and Labour governments
First, please accept my congratulations to yourself and your colleagues on your distinguished manifesto launch – clear policies, frank answers (“We’re skint” resonates) and vigorous rebuttals.
If your aim and hope is a hung (or “balanced”) Parliament, so that the voice of the people may briefly be heard at this critical juncture in our history, may I draw your attention to a point which may help deflate Conservative triumphalism? The Tories are now letting it be understood how well they managed the economy in the Nineties – you may have seen the egregious praise heaped on Ken Clarke by David Dimbleby in the 1st April edition of “Question Time”. Clarke himself damned George Osborne with perfunctory praise and clearly expects to be given a second run at the job sometime.
But I would argue that New Labour did not inherit a thriving economy in 1997; they inherited a booming economy. This led inevitably to the stockmarket bust starting January 2000, which was turned round from 2003 on by the same disastrous trick as was played under the Conservatives, namely an increase in the money supply at a rate generally far above the growth of GDP. For detail, please see the enclosed copy of a letter sent recently to the Guardian’s economics editor, Larry Elliott.
Finally, I note that you said UKIP would consider not standing against a LibDem candidate with proven Eurosceptic views. Would John Hemming MP (for Birmingham Yardley) qualify, as he was one of the signatories to Bob Spink’s EDM 20 (18.11.2009), which called for a referendum on the EU?
CC: Mr Nigel Farage, Mr David Campbell Bannerman