Thursday, November 27, 2008

First Post-Election Thoughts

Clameur de Haro? was exceptionally disappointed at the general thrust of last night’s results, and suspects that the silent majority who rail at the ineptitude of the current Establishment, but positively despair at the direction espoused by the left and the greens, will feel the same.
Amid the euphoria of the JDA and their fellow-travellers (and CdeH? uses the expression advisedly) the implications of the composition of the new States Assembly for the island’s future economic prospects are decidedly unfavourable.
There must now be a strong likelihood of a raft of superficially crowd-pleasing, uncosted exemptions to GST, coupled with the equally costly additional bureaucracy necessary to administer them: yet CdeH? recalls few if any of the tax-and-spend socialists have offered any cogent suggestions as to how the resulting shortfall should be met.
In the current financial markets, populist sentiment may well favour a “let’s hit the banks, they can afford it” approach to filling the revenue gap. Would-be imposers of greater burdens of tax on the industry which comprises 70%+ of the economy, provides significant numbers of its jobs, and contributes most of its Jersey’s prosperity should remember however that financial services are internationally mobile, and that other jurisdictions are willing and able to accommodate ours should the industry be taxed into a disadvantageous position.
Clameur de Haro? never under-estimates the capacity of socialism to leave an economy seriously worse than it found it. Let’s hope that those now congratulating themsleves don’t in the future have to explain themselves to a population wondering how it is that benefits have had to be cut, jobs have disappeared, and living standards have dropped alarmingly.
And finally, a footnote. If there had to be some degree of electoral success for Time4Change, what a pity that Nick Le Cornu - an intelligent and articulate exponent of civilised but robust debate, however much one might disagree with him – didn’t make it in St Helier while his egregious associate Montfort Tadier did in St Brelade. A travesty indeed.
Add to del.icio.usDigg It!Stumble This

No comments: