Cyprus-Forum.com

[erolz66]

Following is from that bastion of socialist left wing propaganda the Financial Times. It is paywalled so I reproduce the article here.

The £3bn hole in the Tory manifesto

The Tory party likes to pitch itself as the party of prudence. It fixes the roof while the sun is shining. It lives within its means. It spends sensibly, explaining to the masses that any expenditure now will be borne by our children in the future.This party line has led to a collective mania in British politics where each party has to “cost” its manifesto with savings and spending spelt out in ridiculous detail. As if the future is certain, or the government is like a household saving for a Spanish holiday.

Which is why Alphaville was surprised to read this in the Tory Manifesto, released at the weekend (with our emphasis):

Our first Budget will prioritise the environment: investing in R&D; decarbonisation schemes; new flood defences, which will receive £4 billion in new funding over the coming years; electric vehicle infrastructure including a national plug-in network and gigafactory; and clean energy.

A gigafactory eh? Those are expensive. Tesla and Panasonic’s one in Nevada, not even half complete, has cost $4.5bn to date. The one announced in Germany a fortnight ago is mooted to cost $4.4bn.

So we quickly flipped to the Tory’s own costings document to see if it had factored in this expenditure. After all, Chancellor Sajid Javid said in the document that:

. . . we won’t gamble with taxpayers’ money or this country’s economic future. That is why we have set out clear rules that will keep borrowing and debt under control. As you can see in this document, our plans are responsible and fully costed.

Yet, turn to page 8 and only £400m has been set aside for Electric Vehicle Infrastructure:


At a gigafactory cost of £3.4bn ($4.4bn) that’s £3bn of expenditure not accounted for. That’s assuming, of course, that all of the £400m is spent on a gigafactory, and not a “national plug-in network” or “clean energy”. It’s also worth noting that the Nevada gigafactory got a potential $1.3bn in tax incentives, and that land in the UK is more expensive than in both Germany and the US.

The Tories have left some wriggle room; new rules about capital spending means there’s a “possible” extra £80bn available over the next four years. If interest rates don’t rise, that is.

But for the party of parsimony, it does seem odd that the Tories would spell out a direct investment in their manifesto, and then not fully cost for it. It makes you wonder if they thought about the use of the word “gigafactory” at all.

[Londonrake]

For every £1 planned increase in public spending by the Conservatives, Labour have pledged £28.

Capital expenditure: Torys £100 billion, Labour £400 billion.

[cyprusgrump]

Following is from that bastion of socialist left wing propaganda the Financial Times. It is paywalled so I reproduce the article here.

The £3bn hole in the Tory manifesto

The Tory party likes to pitch itself as the party of prudence. It fixes the roof while the sun is shining. It lives within its means. It spends sensibly, explaining to the masses that any expenditure now will be borne by our children in the future.This party line has led to a collective mania in British politics where each party has to “cost” its manifesto with savings and spending spelt out in ridiculous detail. As if the future is certain, or the government is like a household saving for a Spanish holiday.

Which is why Alphaville was surprised to read this in the Tory Manifesto, released at the weekend (with our emphasis):

Our first Budget will prioritise the environment: investing in R&D; decarbonisation schemes; new flood defences, which will receive £4 billion in new funding over the coming years; electric vehicle infrastructure including a national plug-in network and gigafactory; and clean energy.

A gigafactory eh? Those are expensive. Tesla and Panasonic’s one in Nevada, not even half complete, has cost $4.5bn to date. The one announced in Germany a fortnight ago is mooted to cost $4.4bn.

So we quickly flipped to the Tory’s own costings document to see if it had factored in this expenditure. After all, Chancellor Sajid Javid said in the document that:

. . . we won’t gamble with taxpayers’ money or this country’s economic future. That is why we have set out clear rules that will keep borrowing and debt under control. As you can see in this document, our plans are responsible and fully costed.

Yet, turn to page 8 and only £400m has been set aside for Electric Vehicle Infrastructure:


At a gigafactory cost of £3.4bn ($4.4bn) that’s £3bn of expenditure not accounted for. That’s assuming, of course, that all of the £400m is spent on a gigafactory, and not a “national plug-in network” or “clean energy”. It’s also worth noting that the Nevada gigafactory got a potential $1.3bn in tax incentives, and that land in the UK is more expensive than in both Germany and the US.

The Tories have left some wriggle room; new rules about capital spending means there’s a “possible” extra £80bn available over the next four years. If interest rates don’t rise, that is.

But for the party of parsimony, it does seem odd that the Tories would spell out a direct investment in their manifesto, and then not fully cost for it. It makes you wonder if they thought about the use of the word “gigafactory” at all.

Wow!

That is so much worse than the £58Bn Labour just produced out of thin air for WASPI!

Mrs. CyprusGrump went onto their website - they are going to give her £31K apparently...

And all paid for by how...?

[erolz66]

For every £1 planned increase in public spending by the Conservatives, Labour have pledged £28.

Capital expenditure: Torys £100 billion, Labour £400 billion.

You seem to be under the impression that the point of me posting the FT article I did was related to me not wanting more spending from my elected government and thus the 4billion or so pledged in the Tory manifesto but not covered in their costing (and more such things are coming out by the day btw) is unwanted expenditure imo.

This is a fundamental misunderstanding. The point for me is similar to, a cousin of it you will, the point I have made before and that you have already strenuously swerved and avoided. That of the degree of blatant 'Tory lies' vs Labour but also vs political behaviour historically' from the Tories or anyone else. Even in this depressing 'safe', vapid, unambitious and uninspiring Tory manifesto they can not even cost it without lying. That was the flavour of the point I was making, as opposed to the point you seem to have assumed I was making.

[Lordo]

For every £1 planned increase in public spending by the Conservatives, Labour have pledged £28.

Capital expenditure: Torys £100 billion, Labour £400 billion.

its not how much you spend it is what you spend it on you stupid idiot. it is also what the investments will return and who will recieve the benefit.

you swinehound friends gave the rich 250billion money in the last 9 years. tyou need to find your brains where ever you lost them. keep looking they will appear where you least expect it.

in the meantime while they were prepared to 15billion a year 75billion in 5 years to the rich swinhounds, he is not prpared to help the ladies which robbed in the last 9 years by extending their retirement age by 60 year.

where the hell is your faking concience. i guess it is where your brains are. have you had your pinkey tested, they may both be hiding there and probably do not want anything to do with you.

[Londonrake]

For every £1 planned increase in public spending by the Conservatives, Labour have pledged £28.

Capital expenditure: Torys £100 billion, Labour £400 billion.

its not how much you spend it is what you spend it on you stupid idiot. it is also what the investments will return and who will recieve the benefit.

you swinehound friends gave the rich 250billion money in the last 9 years. tyou need to find your brains where ever you lost them. keep looking they will appear where you least expect it.

in the meantime while they were prepared to 15billion a year 75billion in 5 years to the rich swinhounds, he is not prpared to help the ladies which robbed in the last 9 years by extending their retirement age by 60 year.

where the hell is your faking concience. i guess it is where your brains are. have you had your pinkey tested, they may both be hiding there and probably do not want anything to do with you.

Obviously, you're irredeemably addicted to your own filth but let's not give up just yet.

If you can't be civil then you can "faik" off and rant at yourself. Get it?

[Paphitis]

I’m starting to get very excited about these UK elections and the upcoming swamp drain fest.

My faith in democracy and for all that is good is being armed tired and I for one am looking forward to all the crocodile tears from the anti democratic and traitorous lefties and Lib Undemocrats.

The great demolition is going to be a sight to behold and a memory to cherish for years to come when the UK finally fecks over the EU criminals.

The Holy Trinity of Trump, Boris and Scomo will reign supreme thus restoring the equilibrium of the universe as we readjust our course towards sanity and beyond.

So happy...

[Paphitis]

[Lordo]

well well well. what do you know. he will investigate what he has been saying after the new year. thank fak for that.

[Kikapu]

I’m starting to get very excited about these UK elections and the upcoming swamp drain fest.

My faith in democracy and for all that is good is being armed tired and I for one am looking forward to all the crocodile tears from the anti democratic and traitorous lefties and Lib Undemocrats.

The great demolition is going to be a sight to behold and a memory to cherish for years to come when the UK finally fecks over the EU criminals.

The Holy Trinity of Trump, Boris and Scomo will reign supreme thus restoring the equilibrium of the universe as we readjust our course towards sanity and beyond.

So happy...

Let’s hope that you are on the ground when the UK election results come in, because we don’t want you to make a hard landing with blown tyres if the results are different than what you want!