Posts Tagged ‘1990s’

SNP-backed Miliband or a return to the John Major years? Only the Lib Dems can stop it

22/04/2015, 05:44:47 PM

by Samuel Dale

He’s back. The most successful prime minister – nay politician – ever to grace British parliamentary democracy.

A man of such grace, skill and power that he swept all before him in his pomp. Adored by his own. Feared by rivals. Yesterday, he spoke and we – humble electorate – must heed his wise counsel.

I speak, of course, of Sir John Major. Well, that seems to be the absurd narrative pedalled by the electorally-charged right-wing press that once lampooned Major’s premiership. Times change. Major’s speech gave warning of the higher taxes, fewer jobs and general mayhem of a Labour government supported by the SNP.

Firstly, he’s right. A Labour/SNP deal would be a disaster for Britain and the Labour party as well.

There would be an economic chilling effect around new investment into the UK while the PLP would be split over any arrangement with the nationalists. In fact, I was warning about it on this blog before it was cool.

But, as many have pointed out, it was John Major’s Government in the 1990s that actually did deliver higher taxes, fewer jobs and general mayhem.

Look at the facts. There’s Black Wednesday, when a self-inflicted economic crisis pushed the Bank of England’s interest rates to a crushing 15% in September 1992.

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