Opinion – Jeremy Corbyn’s economic plans WON’T work claims Labour MP launching own ‘entrepreneurial socialism’ plans – Mirror Online – John Gelmini

Jeremy Corbyn’s economic policies are completely unaffordable because, as the man has admitted several times, he intends to pay for his programs by recovering £140 billion GBP in taxes which multinationals have avoided.

Taxes have been avoided by multinationals using offshore special purpose vehicles and different jurisdictional strategies for hundreds of years through different administrations.

Thus Corbyn would have to achieve something that no Labour governments have ever achieved before, and given his lack of track record and of running anything, he will fail and would be unable to fund his programs.

Dr Alf,  as a former Chartered Accountant and highly numerate interim strategist, could no doubt calculate the odds more precisely than most but for me Corbyn has less Than a “snowballs chance in hell”.

Liam Byrne is a failed Treasury Official, a failed politician, and a little more sane than Corbyn. His economic policies might be better than Corbyn’s but not by a sufficient margin to allow him to experiment even if the public were, in a moment of lunacy, to vote for the Labour Party and this latest version of “Voodoo economics”.

John Gelmini

The Great Fall of China | The Economist

English: Logo for The Economist

English: Logo for The Economist (Photo credit: Wikipedia)

Today’s lead article from the Economist takes a balanced look at the risks and opportunities. It’s a recommended read.

Source: The Great Fall of China | The Economist

Unlike much of the mainstream media this week, the Economist draws the line under the risks, highlighting the upside opportunity from leveraging economic policy in both China and the world’s major economies.