Category Archives: Venezuelan conditions

What a relief!

Dalrymple writes that the defeat in the general election of Jeremy Corbyn,

whose economic ideas could produce a shortage of salt water in the Pacific, was incomparably more important than the question of Brexit, a minor distraction by comparison.

He notes that

we no longer have to muse upon whether and how to leave — or escape — Britain. The prospect of crushing taxes, total government and union control of the economy, expropriation of private property without proper compensation (or any), and a general Venezuela-isation, has receded.

Even if Corbyn loses, millions will have voted for this

Labour’s frightening manifesto

Reading it, Dalrymple realises

how close Britain might be to a catastrophe that would make the Brexit episode seem of minor importance.

If Labour wins,

the party will inaugurate a quasi-totalitarian government. Chávez-admirer Jeremy Corbyn’s deputy, John McDonnell, is an admirer of Marx, Lenin, and Trotsky, whom he has described as the greatest influence on his worldview.

Labour, Dalrymple notes,

lives in a world in which, when you increase taxes, your tax receipts rise in exact proportion to the percentage increase: the taxed do not change their behaviour.

If Labour were elected and tried to put its proposals into practice, there would be

  • capital flight
  • capital controls
  • loss of confidence
  • complete absence of investment
  • forced investment (requiring ever higher taxes)
  • government control over the economy to pay for it
  • emigration of anyone who can earn a living elsewhere

The ensuing chaos and degradation

would swiftly exceed anything previously seen in the UK. The prospect of a military coup, with the support of a large part of the population, would not be far-fetched; nor, if in the meantime the government had managed to suborn or dissolve the armed forces, would be a slide into Venezuelan conditions, in the name of social justice.