No answers and no solutions

Paul Courtel writes that Labour leader contender Jeremy Corbyn would be unlikely to gain the confidence of the business community or the financial markets, which would in turn cause cautious British people not to risk electing him (Letters, August 14).

Apart from opinion polls suggesting the opposite, this is to make oneself a hostage to fortune.

It says that ‘business’ not democracy decides who governs, that any change to the status quo must have the approval of the unaccountable ‘suits’.

Why bother to have a parliament when faceless boardrooms dictate terms?

Corbyn rejects this dogma, for that is all that it is.

And contrary to Yvette Cooper’s assertion that he has only ‘old solutions to old problems’, Corbyn recognises that the ‘old problems’ have never gone away and that market failure is the cause.

And, if you think that government is ineffective and shouldn’t interfere ask yourself why corporate lobby groups spend billions to influence policy?

On New Labour, their early years were the best as they rolled out a national programme of improved living standards and reconstruction, as Paul points out, following their election in 1997.

This correction to the ravages of the Thatcher/Major administrations was fine as far as it went.

Unfortunately, they left the fundamentals unchanged.

Like shovelling coal on a runaway train the neoliberal consensus of privatisation, deregulation and outsourcing set in motion by the Tories was continued leading to the great crash of 2007/8.

It is ironic really. As one commentator remarked while stock exchanges around the world were collapsing, the much-vaunted market ‘had no answers and no solutions’.

Whisper it not but it was government which bailed out the business community and financial markets.

So who should have confidence in whom?

Stephen Jackson

Albert Road


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